BNP Paribas Has $2.75 Million Holdings in Intuit Inc. (NASDAQ:INTU)

BNP Paribas raised its position in Intuit Inc. (NASDAQ:INTU) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,477 shares of the software maker’s stock after purchasing an additional 63 shares during the period. BNP Paribas’ holdings in Intuit were worth $2,751,000 as of its most recent SEC filing.

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

Intuit Stock Up 0.7 %

Shares of INTU opened at $638.83 on Wednesday. The firm has a market cap of $178.90 billion, a P/E ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The firm’s 50-day simple moving average is $634.46 and its 200 day simple moving average is $631.29.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

Insider Activity

In other news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Morgan Stanley raised their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Piper Sandler lowered their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $737.44.

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.