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

Geode Capital Management LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,111,097 shares of the software maker’s stock after buying an additional 132,384 shares during the quarter. Geode Capital Management LLC’s holdings in Intuit were worth $3,833,720,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC increased its position in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Intuit during the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,896 shares of company stock valued at $35,689,216. Company insiders own 2.68% of the company’s stock.

Intuit Trading Up 2.5 %

Shares of INTU stock opened at $613.99 on Tuesday. The firm has a market capitalization of $171.65 billion, a PE ratio of 59.61, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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 1 year low of $553.24 and a 1 year high of $714.78. The stock has a fifty day moving average of $596.09 and a two-hundred day moving average of $622.00.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research analyst reports. Mizuho lifted their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Piper Sandler reissued an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group dropped their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $718.00.

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.