Geode Capital Management LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,978,713 shares of the software maker's stock after buying an additional 80,463 shares during the quarter. Geode Capital Management LLC owned about 2.13% of Intuit worth $3,701,762,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC purchased a new position in Intuit during the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the third quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit in the 2nd quarter valued at approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Sandeep Aujla sold 775 shares of the firm'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 transaction, the chief financial officer now owns 4,451 shares of the company's stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares of the company's stock, valued at $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,032 shares of company stock valued at $76,314,242 over the last quarter. Company insiders own 2.68% of the company's stock.
INTU stock opened at $646.58 on Tuesday. The stock has a market cap of $180.99 billion, a P/E ratio of 62.77, a PEG ratio of 3.19 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company's 50 day moving average is $635.59 and its two-hundred day moving average is $630.43.
Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the business earned $1.14 EPS. Intuit's revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid 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 yield of 0.64%. Intuit's dividend payout ratio is presently 40.39%.
Several analysts recently weighed in on INTU shares. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Oppenheimer boosted their price objective on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a report on Friday, November 22nd. Morgan Stanley boosted their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Friday, November 22nd. Finally, Piper Sandler lowered their price objective on shares of Intuit from $768.00 to $765.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $737.44.
Read Our Latest Research Report on 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.
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