TCV Trust & Wealth Management Inc. Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

TCV Trust & Wealth Management Inc. cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,182 shares of the software maker’s stock after selling 455 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Intuit were worth $6,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in shares of Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after acquiring an additional 483,621 shares during the last quarter. SG Americas Securities LLC raised its stake in Intuit by 940.4% in the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock valued at $205,186,000 after purchasing an additional 285,328 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Intuit during the 2nd quarter worth $184,982,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of Intuit stock opened at $609.27 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $170.77 billion, a price-to-earnings ratio of 58.30, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. The business has a 50-day moving average of $626.86 and a 200 day moving average of $626.63. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is 39.81%.

Insider Buying and Selling

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Intuit news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 in the last three months. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on INTU. Barclays lowered their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

About 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.