Charles Schwab Investment Management Inc. Acquires 44,332 Shares of Intuit Inc. (NASDAQ:INTU)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,571,602 shares of the software maker’s stock after acquiring an additional 44,332 shares during the period. Charles Schwab Investment Management Inc. owned about 0.56% of Intuit worth $982,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Intuit during the third quarter valued at about $51,000. V Square Quantitative Management LLC lifted its position in shares of Intuit by 18.8% during the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after buying an additional 482 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Intuit by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after buying an additional 226 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Intuit by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC purchased a new stake in shares of Intuit during the fourth quarter valued at about $1,292,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INTU shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Piper Sandler raised their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays raised their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Intuit Price Performance

INTU traded down $9.51 on Wednesday, hitting $631.64. 358,405 shares of the company’s stock were exchanged, compared to its average volume of 1,221,858. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $636.41 and a 200-day moving average price of $608.45. The stock has a market cap of $176.86 billion, a price-to-earnings ratio of 65.42, a P/E/G ratio of 3.83 and a beta of 1.22.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 in the last quarter. Company insiders own 2.90% of the company’s stock.

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.