Chevy Chase Trust Holdings LLC Sells 2,411 Shares of Intuit Inc. (NASDAQ:INTU)

Chevy Chase Trust Holdings LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 153,214 shares of the software maker’s stock after selling 2,411 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Intuit worth $100,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in INTU. Cambridge Trust Co. boosted its position in shares of Intuit by 63.3% in the fourth quarter. Cambridge Trust Co. now owns 160 shares of the software maker’s stock valued at $100,000 after acquiring an additional 62 shares during the period. Western Wealth Management LLC boosted its holdings in Intuit by 39.4% in the 4th quarter. Western Wealth Management LLC now owns 548 shares of the software maker’s stock valued at $343,000 after purchasing an additional 155 shares during the period. Beaumont Financial Advisors LLC grew its position in shares of Intuit by 2.8% during the 4th quarter. Beaumont Financial Advisors LLC now owns 932 shares of the software maker’s stock worth $583,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Intuit during the fourth quarter worth approximately $38,000. Finally, Onyx Bridge Wealth Group LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $229,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,963 shares of company stock worth $114,442,445. 2.90% of the stock is currently owned by insiders.

Intuit Trading Up 0.6 %

Shares of Intuit stock traded up $3.98 during trading on Tuesday, hitting $667.28. The company’s stock had a trading volume of 1,110,379 shares, compared to its average volume of 1,315,665. The stock has a market cap of $186.54 billion, a price-to-earnings ratio of 61.62, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The stock has a 50-day moving average price of $633.79 and a two-hundred day moving average price of $633.92.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.80 EPS. Equities research analysts anticipate that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INTU shares. Wells Fargo & Company raised their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, July 12th. Citigroup increased their price objective on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $691.77.

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.