Lincoln National Corp Buys 1,101 Shares of Intuit Inc. (NASDAQ:INTU)

Lincoln National Corp boosted its stake in Intuit Inc. (NASDAQ:INTU) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,404 shares of the software maker’s stock after purchasing an additional 1,101 shares during the quarter. Lincoln National Corp’s holdings in Intuit were worth $2,753,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in INTU. Desjardins Global Asset Management Inc. increased its stake in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after acquiring an additional 16 shares during the last quarter. GAM Holding AG lifted its position in Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 17 shares during the last quarter. Janiczek Wealth Management LLC grew its stake in Intuit by 2.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares in the last quarter. Clear Harbor Asset Management LLC increased its holdings in shares of Intuit by 0.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after buying an additional 18 shares during the last quarter. Finally, Glenview Trust co raised its position in shares of Intuit by 1.9% during the 3rd quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after buying an additional 19 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on INTU shares. JPMorgan Chase & Co. upped their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Piper Sandler increased their target price on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company boosted their price objective on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Finally, Susquehanna raised their target price on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

NASDAQ INTU traded up $6.51 during trading hours on Tuesday, reaching $641.15. The company’s stock had a trading volume of 757,578 shares, compared to its average volume of 1,231,888. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The firm’s 50-day moving average price is $636.97 and its 200-day moving average price is $607.50. The company has a market capitalization of $179.52 billion, a price-to-earnings ratio of 65.13, a PEG ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.56%. Intuit’s dividend payout ratio is currently 36.73%.

Intuit Company 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.