Union Bancaire Privee UBP SA Makes New $104.28 Million Investment in Intuit Inc. (NASDAQ:INTU)

Union Bancaire Privee UBP SA acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 166,881 shares of the software maker’s stock, valued at approximately $104,278,000. Intuit makes up approximately 2.1% of Union Bancaire Privee UBP SA’s investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors have also modified their holdings of INTU. State Street Corp raised its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the period. Geode Capital Management LLC boosted its position in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after acquiring an additional 26,914 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last three months. 2.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective on the stock. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Shares of Intuit stock opened at $597.95 on Monday. The stock has a market cap of $167.38 billion, a PE ratio of 58.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $636.69 and a 200-day simple moving average of $634.99.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

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.