Geode Capital Management LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Geode Capital Management LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,978,713 shares of the software maker's stock after acquiring an additional 80,463 shares during the period. Geode Capital Management LLC owned 2.13% of Intuit worth $3,701,762,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth $35,000. Institutional investors own 83.66% of the company's stock.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the business'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 sale, the chief financial officer now directly owns 4,451 shares of the company's stock, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,032 shares of company stock valued at $76,314,242 in the last ninety days. 2.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INTU has been the subject of several recent analyst reports. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Morgan Stanley upped their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an "outperform" rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler cut their target price on Intuit from $768.00 to $765.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $737.44.

Intuit Trading Up 0.1 %

Shares of NASDAQ INTU traded up $0.49 during trading on Tuesday, reaching $647.07. The company had a trading volume of 1,477,949 shares, compared to its average volume of 1,361,356. The stock has a market cap of $181.13 billion, a P/E ratio of 62.82, a PEG ratio of 3.19 and a beta of 1.25. The company's fifty day moving average price is $635.59 and its 200-day moving average price is $630.43. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last released 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. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. As a group, research analysts expect that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit's dividend payout ratio (DPR) 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.