Lincoln National Corp Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Lincoln National Corp grew its holdings in Intuit Inc. (NASDAQ:INTUGet Rating) by 7.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,257 shares of the software maker’s stock after buying an additional 160 shares during the period. Lincoln National Corp’s holdings in Intuit were worth $874,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Atwood & Palmer Inc. boosted its stake in shares of Intuit by 225.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 65 shares of the software maker’s stock worth $25,000 after purchasing an additional 45 shares during the period. Apeiron RIA LLC boosted its stake in shares of Intuit by 47.5% during the 2nd quarter. Apeiron RIA LLC now owns 761 shares of the software maker’s stock worth $25,000 after purchasing an additional 245 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Intuit by 81.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock worth $29,000 after purchasing an additional 34 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Intuit by 71.7% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 79 shares of the software maker’s stock worth $30,000 after purchasing an additional 33 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Intuit during the 3rd quarter worth about $49,000. 82.65% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Down 2.1 %

NASDAQ:INTU opened at $401.55 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $112.80 billion, a P/E ratio of 61.12, a P/E/G ratio of 3.08 and a beta of 1.15. The firm has a 50-day simple moving average of $392.80 and a 200-day simple moving average of $411.89. Intuit Inc. has a one year low of $339.36 and a one year high of $579.96.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings data on Tuesday, November 29th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.08 by $0.49. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. Intuit had a net margin of 14.10% and a return on equity of 14.31%. Equities analysts anticipate that Intuit Inc. will post 8.99 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Tuesday, January 10th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Monday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 47.49%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Intuit from $525.00 to $475.00 and set a “buy” rating for the company in a report on Friday, September 30th. Piper Sandler decreased their price objective on shares of Intuit from $553.00 to $459.00 and set an “overweight” rating for the company in a report on Wednesday, November 30th. Evercore ISI decreased their price objective on shares of Intuit from $601.00 to $505.00 in a report on Friday, September 30th. Jefferies Financial Group decreased their price objective on shares of Intuit from $575.00 to $525.00 in a report on Wednesday, November 30th. Finally, Oppenheimer decreased their price objective on shares of Intuit from $516.00 to $476.00 and set an “outperform” rating for the company in a report on Wednesday, November 30th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $499.21.

Insider Activity

In other news, EVP James Alexander Chriss sold 1,545 shares of the company’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $407.89, for a total value of $630,190.05. Following the sale, the executive vice president now directly owns 344 shares of the company’s stock, valued at approximately $140,314.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP James Alexander Chriss sold 1,545 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $407.89, for a total value of $630,190.05. Following the completion of the transaction, the executive vice president now directly owns 344 shares in the company, valued at approximately $140,314.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michelle M. Clatterbuck sold 544 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $410.00, for a total transaction of $223,040.00. Following the completion of the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at $553,500. The disclosure for this sale can be found here. Insiders have sold 3,086 shares of company stock valued at $1,258,434 in the last ninety days. Insiders own 3.18% of the company’s stock.

About Intuit

(Get Rating)

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

Recommended Stories

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTUGet Rating).

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.