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

Chevy Chase Trust Holdings LLC increased its holdings in Intuit Inc. (NASDAQ:INTUGet Rating) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,118 shares of the software maker’s stock after buying an additional 1,443 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Intuit were worth $67,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Fairfield Bush & CO. lifted its holdings in Intuit by 39.6% in the 1st quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after purchasing an additional 1,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Intuit by 10.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock valued at $242,492,000 after purchasing an additional 48,196 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Intuit by 8.4% in the 1st quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock valued at $1,552,000 after purchasing an additional 249 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Intuit by 7.1% in the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock valued at $25,825,000 after purchasing an additional 3,576 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Intuit by 6.6% in the 1st quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock valued at $16,448,000 after purchasing an additional 2,127 shares in the last quarter. 82.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on INTU. Oppenheimer cut their price objective on shares of Intuit from $516.00 to $476.00 and set an “outperform” rating on the stock in a report on Wednesday, November 30th. Barclays cut their price objective on shares of Intuit from $490.00 to $465.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Wells Fargo & Company cut their price objective on shares of Intuit from $525.00 to $475.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Stifel Nicolaus cut their price objective on shares of Intuit from $525.00 to $475.00 and set a “buy” rating on the stock in a report on Friday, September 30th. Finally, Citigroup cut their price target on shares of Intuit from $498.00 to $462.00 in a report on Thursday, December 1st. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $499.21.

Insider Activity at Intuit

In other Intuit news, CFO Michelle M. Clatterbuck sold 544 shares of Intuit stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $410.00, for a total value of $223,040.00. Following the completion of the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at $553,500. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Michelle M. Clatterbuck sold 544 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $410.00, for a total transaction of $223,040.00. Following the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at approximately $553,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Alexander Chriss sold 1,545 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The stock was 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 approximately $140,314.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,086 shares of company stock valued at $1,258,434. Corporate insiders own 3.18% of the company’s stock.

Intuit Trading Down 1.0 %

NASDAQ INTU opened at $397.48 on Wednesday. The company’s fifty day moving average price is $392.80 and its two-hundred day moving average price is $411.89. The company has a market capitalization of $111.66 billion, a price-to-earnings ratio of 61.12, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. Intuit Inc. has a 12 month low of $339.36 and a 12 month high of $579.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.37 and a quick ratio of 1.37.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Tuesday, January 10th were issued a $0.78 dividend. The ex-dividend date was Monday, January 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.78%. Intuit’s dividend payout ratio (DPR) is 47.49%.

About Intuit

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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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