Intuit Inc. (INTU) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 5.9% during the 4th quarter, Holdings Channel reports. The firm owned 3,020,966 shares of the software maker’s stock after acquiring an additional 167,550 shares during the quarter. Geode Capital Management LLC’s holdings in Intuit were worth $475,804,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of INTU. APG Asset Management N.V. grew its position in shares of Intuit by 102.0% in the fourth quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock valued at $215,555,000 after purchasing an additional 828,387 shares during the last quarter. Jensen Investment Management Inc. acquired a new stake in shares of Intuit in the third quarter valued at about $112,811,000. BlackRock Inc. grew its position in shares of Intuit by 3.0% in the fourth quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock valued at $2,669,740,000 after purchasing an additional 486,554 shares during the last quarter. Atlanta Capital Management Co. L L C grew its position in shares of Intuit by 142.3% in the third quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock valued at $71,764,000 after purchasing an additional 296,481 shares during the last quarter. Finally, Investec Asset Management LTD grew its position in shares of Intuit by 35.3% in the third quarter. Investec Asset Management LTD now owns 952,772 shares of the software maker’s stock valued at $135,427,000 after purchasing an additional 248,408 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on INTU. JPMorgan Chase & Co. raised their price target on Intuit to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 4th. Deutsche Bank raised their price target on Intuit from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Oppenheimer reaffirmed a “buy” rating and issued a $166.00 price target (up from $159.00) on shares of Intuit in a research report on Tuesday, November 21st. Citigroup raised their price target on Intuit to $170.00 in a research report on Tuesday, November 21st. Finally, Bank of America raised their price target on Intuit from $172.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Intuit presently has a consensus rating of “Hold” and an average target price of $166.53.
Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Intuit had a return on equity of 72.52% and a net margin of 17.48%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. analysts anticipate that Intuit Inc. will post 4.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Tuesday, April 10th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 42.86%.
In other Intuit news, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $155.03, for a total transaction of $28,422,114.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 259,205 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $171.72, for a total transaction of $44,510,682.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 751,826 shares of company stock valued at $122,449,540. Corporate insiders own 5.59% of the company’s stock.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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