OVERSEA CHINESE BANKING Corp Ltd Has $11.77 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

OVERSEA CHINESE BANKING Corp Ltd raised its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 2,160.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,830 shares of the software maker's stock after purchasing an additional 17,997 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Intuit were worth $11,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Intuit in the 3rd quarter worth $51,000. V Square Quantitative Management LLC increased its position in shares of Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker's stock worth $1,558,000 after purchasing an additional 482 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Intuit by 27.5% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker's stock worth $4,496,000 after purchasing an additional 1,900 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker's stock worth $9,400,000 after purchasing an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC acquired a new stake in shares of Intuit during the 4th quarter worth about $1,292,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Intuit from $600.00 to $720.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Barclays raised their target price on Intuit from $735.00 to $745.00 and gave the company an "overweight" rating in a report on Friday, February 23rd. Oppenheimer raised their target price on Intuit from $678.00 to $712.00 and gave the company an "outperform" rating in a report on Friday, February 23rd. Mizuho raised their target price on Intuit from $670.00 to $725.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Finally, Susquehanna raised their target price on Intuit from $700.00 to $775.00 and gave the company a "positive" rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $645.00.

Intuit Stock Down 0.5 %

INTU stock traded down $3.21 during trading on Friday, hitting $605.17. 1,609,082 shares of the company's stock were exchanged, compared to its average volume of 1,128,744. The business has a 50-day moving average price of $642.93 and a two-hundred day moving average price of $599.70. The stock has a market capitalization of $169.45 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 3.70 and a beta of 1.21. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, equities research analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit's dividend payout ratio (DPR) is 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Lauren D. Hotz sold 745 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company's stock, valued at $2,083,313.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 over the last quarter. Company insiders own 2.90% of the company's stock.

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.