Mirae Asset Global Investments Co. Ltd. Has $88.40 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 142,809 shares of the software maker’s stock after acquiring an additional 9,606 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Intuit were worth $88,403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. LGT Financial Advisors LLC bought a new position in shares of Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the second quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter valued at $35,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $609.27 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a fifty day moving average of $627.75 and a 200-day moving average of $627.00. The firm has a market capitalization of $170.77 billion, a P/E ratio of 58.30, a P/E/G ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 39.81%.

Analyst Ratings Changes

Several equities analysts have commented on INTU shares. Barclays dropped their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

About Intuit

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.