Charles Schwab Investment Management Inc. Has $1.13 Billion Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Intuit Inc. by 4.7% during the first quarter, owning 1,841,590 shares valued at approximately $1.13 billion.
• Intuit reported a 15.1% increase in quarterly revenue, reaching $7.75 billion, alongside an earnings per share of $11.65 that exceeded analyst estimates.
• Institutional investors and hedge funds currently hold 83.66% of Intuit's stock, reflecting a significant interest in the company.

Charles Schwab Investment Management Inc. lifted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,841,590 shares of the software maker's stock after buying an additional 82,419 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.66% of Intuit worth $1,130,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of INTU. GAMMA Investing LLC lifted its position in Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares during the last quarter. Nicholas Hoffman & Company LLC. acquired a new position in shares of Intuit during the 1st quarter worth about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after purchasing an additional 771,232 shares during the period. Unisphere Establishment grew its holdings in Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

NASDAQ:INTU opened at $779.47 on Thursday. The firm has a market cap of $217.43 billion, a PE ratio of 63.27, a price-to-earnings-growth ratio of 2.96 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The company's 50-day moving average price is $769.25 and its two-hundred day moving average price is $665.19.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.88 EPS. On average, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.5%. Intuit's payout ratio is presently 33.77%.

Analyst Ratings Changes

A number of research analysts have recently commented on INTU shares. Susquehanna reiterated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $806.27.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the transaction, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.