Free Trial

OVERSEA CHINESE BANKING Corp Ltd Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Intuit logo with Computer and Technology background

Key Points

  • OVERSEA CHINESE BANKING Corp Ltd increased its stake in Intuit Inc. by 35.5% during the first quarter, acquiring a total of 11,065 shares valued at approximately $6.79 million.
  • Intuit reported $11.65 earnings per share for the latest quarter, exceeding the consensus estimate of $10.89, along with revenue of $7.75 billion—a 15.1% year-over-year increase.
  • The company recently declared a dividend of $1.04 per share, leading to an annualized dividend of $4.16 and a dividend yield of 0.5%.
  • Five stocks to consider instead of Intuit.

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 35.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,065 shares of the software maker's stock after acquiring an additional 2,900 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Intuit were worth $6,794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after buying an additional 2,821,534 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new position in shares of Intuit during the 1st quarter valued at approximately $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 acquiring an additional 771,232 shares during the period. Unisphere Establishment grew its position in shares of Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after acquiring an additional 500,000 shares during the period. Finally, Northern Trust Corp grew its position in shares of Intuit by 17.3% during 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 acquiring an additional 498,030 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Down 1.1%

NASDAQ:INTU traded down $8.98 during trading hours on Friday, reaching $776.15. The company's stock had a trading volume of 1,490,057 shares, compared to its average volume of 1,456,620. The firm has a market capitalization of $216.51 billion, a price-to-earnings ratio of 63.00, a PEG ratio of 2.99 and a beta of 1.28. The firm has a 50-day simple moving average of $767.11 and a 200-day simple moving average of $662.40. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

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

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend 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%.

Insider Activity

In related news, CFO Sandeep Aujla sold 2,591 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the sale, the chief financial officer owned 768 shares of the company's stock, valued at $600,744.96. The trade was a 77.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 882 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on INTU shares. Stifel Nicolaus increased their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Morgan Stanley raised their price objective on shares of Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Barclays reaffirmed an "overweight" rating and issued a $815.00 price objective (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $806.27.

Check Out Our Latest Analysis on Intuit

Intuit Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Should You Invest $1,000 in Intuit Right Now?

Before you consider Intuit, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intuit wasn't on the list.

While Intuit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2025 Cover

Discover the next wave of investment opportunities with our report, 7 Stocks That Will Be Magnificent in 2025. Explore companies poised to replicate the growth, innovation, and value creation of the tech giants dominating today's markets.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Palantir & AMD Earnings: Massive Options Setups Ahead
3 Value Plays Set to Explode
5 Stocks to BUY NOW in August 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines