Choreo LLC Has $6.74 Million Stake in Intuit Inc. (NASDAQ:INTU)

Choreo LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,702 shares of the software maker’s stock after acquiring an additional 1,233 shares during the quarter. Choreo LLC’s holdings in Intuit were worth $6,742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Geode Capital Management LLC raised its stake in Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after buying an additional 80,463 shares during the period. Fisher Asset Management LLC lifted its position in shares of Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Intuit by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after acquiring an additional 26,914 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.6 %

Shares of NASDAQ INTU opened at $588.26 on Thursday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock’s fifty day moving average is $629.33 and its 200 day moving average is $632.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $164.66 billion, a P/E ratio of 57.11, a PEG ratio of 2.96 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. Sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Analyst Ratings Changes

INTU has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Finally, Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Company 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.