Hilltop Holdings Inc. Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Hilltop Holdings Inc. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 120.4% in the third quarter, HoldingsChannel reports. The fund owned 5,535 shares of the software maker’s stock after buying an additional 3,024 shares during the period. Hilltop Holdings Inc.’s holdings in Intuit were worth $3,437,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after buying an additional 483,621 shares during the period. Holocene Advisors LP increased its holdings in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Intuit in the 2nd quarter valued at about $184,982,000. Ameriprise Financial Inc. boosted its holdings in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, Clearbridge Investments LLC grew its position in Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after acquiring an additional 169,190 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler cut their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Bank of America upped their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Down 1.2 %

NASDAQ:INTU opened at $634.07 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50-day moving average price is $634.10 and its 200-day moving average price is $631.26. The company has a market capitalization of $177.49 billion, a PE ratio of 61.56, a P/E/G ratio of 3.17 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,186 shares of company stock valued at $76,339,018. 2.68% of the stock is currently owned by corporate insiders.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.