Milestone Resources Group Ltd Has $100.75 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Milestone Resources Group Ltd reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 162,242 shares of the software maker’s stock after selling 636 shares during the period. Intuit comprises about 3.5% of Milestone Resources Group Ltd’s investment portfolio, making the stock its 14th biggest position. Milestone Resources Group Ltd owned 0.06% of Intuit worth $100,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harvest Portfolios Group Inc. boosted its holdings in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC boosted its stake in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares in the last quarter. Retireful LLC bought a new stake in Intuit in the third quarter valued at $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Intuit during the third quarter worth $56,144,000. Finally, Howe & Rusling Inc. lifted its holdings in shares of Intuit by 8.0% during the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock valued at $6,742,000 after acquiring an additional 808 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.5 %

Shares of INTU stock traded down $3.68 during trading hours on Friday, reaching $668.57. The company had a trading volume of 65,228 shares, compared to its average volume of 1,361,395. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $187.15 billion, a price-to-earnings ratio of 65.27, a P/E/G ratio of 3.31 and a beta of 1.24. The company has a 50 day moving average of $639.04 and a 200 day moving average of $631.28.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. Intuit’s dividend payout ratio is 40.39%.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the company’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 transaction, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders sold 126,732 shares of company stock valued at $81,378,070 in the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler reduced their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit 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.