Intuit Inc. (NASDAQ:INTU) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,111,097 shares of the software maker’s stock after acquiring an additional 132,384 shares during the period. Geode Capital Management LLC owned about 2.18% of Intuit worth $3,833,720,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of INTU. Nordea Investment Management AB lifted its stake in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in Intuit during the 4th quarter worth about $621,000. Beacon Investment Advisory Services Inc. lifted its holdings in Intuit by 3.8% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after buying an additional 1,602 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after purchasing an additional 12,916 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 2.5 %

Shares of NASDAQ INTU opened at $613.99 on Tuesday. The stock has a market capitalization of $171.65 billion, a price-to-earnings ratio of 59.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The firm has a 50-day moving average price of $596.09 and a 200 day moving average price of $622.00. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is 38.81%.

Insider Transactions at Intuit

In related news, CEO Sasan K. Goodarzi sold 26,562 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the sale, the chief executive officer now directly owns 37,869 shares of the company’s stock, valued at approximately $23,701,828.41. This represents a 41.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,896 shares of company stock valued at $35,689,216 in the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Citigroup decreased their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $718.00.

Intuit Company 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.