Chevy Chase Trust Holdings LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Chevy Chase Trust Holdings LLC lifted its holdings in Intuit Inc. (NASDAQ:INTUGet Rating) by 0.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 173,118 shares of the software maker’s stock after purchasing an additional 1,443 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Intuit worth $67,052,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of INTU. Victory Capital Management Inc. raised its stake in shares of Intuit by 35.5% during the 3rd quarter. Victory Capital Management Inc. now owns 269,085 shares of the software maker’s stock worth $104,222,000 after acquiring an additional 70,425 shares in the last quarter. PDT Partners LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $2,049,000. Montag & Caldwell LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $8,039,000. Bridges Investment Management Inc. raised its stake in shares of Intuit by 1.3% during the 3rd quarter. Bridges Investment Management Inc. now owns 3,410 shares of the software maker’s stock worth $1,321,000 after acquiring an additional 44 shares in the last quarter. Finally, AE Wealth Management LLC raised its stake in shares of Intuit by 34.9% during the 2nd quarter. AE Wealth Management LLC now owns 15,234 shares of the software maker’s stock worth $5,872,000 after acquiring an additional 3,938 shares in the last quarter. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP James Alexander Chriss sold 1,545 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $407.89, for a total value of $630,190.05. Following the completion of the sale, the executive vice president now directly owns 344 shares in the company, valued at $140,314.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP James Alexander Chriss sold 1,545 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $407.89, for a total value of $630,190.05. Following the completion of the sale, the executive vice president now directly owns 344 shares in the company, valued at $140,314.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 400 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $416.01, for a total transaction of $166,404.00. Following the completion of the sale, the chief accounting officer now owns 2,067 shares of the company’s stock, valued at $859,892.67. The disclosure for this sale can be found here. Insiders have sold a total of 3,086 shares of company stock valued at $1,258,434 over the last ninety days. Corporate insiders own 3.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Intuit from $560.00 to $525.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Morgan Stanley cut their price target on shares of Intuit from $550.00 to $520.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 22nd. StockNews.com assumed coverage on shares of Intuit in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Credit Suisse Group assumed coverage on shares of Intuit in a research note on Monday, November 21st. They set an “outperform” rating and a $500.00 price target on the stock. Finally, Jefferies Financial Group cut their price target on shares of Intuit from $575.00 to $525.00 in a research note on Wednesday, November 30th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $499.21.

Intuit Stock Performance

INTU opened at $397.48 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.40. The company has a market cap of $111.66 billion, a price-to-earnings ratio of 61.12, a PEG ratio of 3.08 and a beta of 1.15. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $579.96. The firm’s fifty day simple moving average is $392.80 and its two-hundred day simple moving average is $411.89.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings data on Tuesday, November 29th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.49. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intuit had a net margin of 14.10% and a return on equity of 14.31%. Equities analysts anticipate that Intuit Inc. will post 8.99 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Tuesday, January 10th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.78%. The ex-dividend date was Monday, January 9th. Intuit’s payout ratio is 47.49%.

Intuit Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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