2,648 Shares in Intuit Inc. (INTU) Acquired by Private Advisor Group LLC
Private Advisor Group LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,648 shares of the company’s stock, valued at approximately $300,000.
Several other large investors have also recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its stake in shares of Intuit by 166.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 689,800 shares of the company’s stock worth $71,746,000 after buying an additional 430,600 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Intuit by 1.4% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 139,874 shares of the company’s stock worth $15,611,000 after buying an additional 1,955 shares during the last quarter. Strs Ohio boosted its stake in shares of Intuit by 209.6% in the second quarter. Strs Ohio now owns 567,793 shares of the company’s stock worth $63,371,000 after buying an additional 384,420 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Intuit by 9.0% in the first quarter. Royal Bank of Canada now owns 1,300,284 shares of the company’s stock worth $135,244,000 after buying an additional 107,176 shares during the last quarter. Finally, Telemus Capital LLC purchased a new stake in shares of Intuit during the second quarter worth about $201,000. 86.01% of the stock is currently owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.24% during mid-day trading on Thursday, reaching $111.05. 316,834 shares of the company’s stock were exchanged. Intuit Inc. has a 52-week low of $85.61 and a 52-week high of $116.97. The company has a 50 day moving average price of $111.06 and a 200 day moving average price of $107.19. The firm has a market cap of $28.64 billion, a P/E ratio of 30.07 and a beta of 1.05.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.10. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The company had revenue of $754 million for the quarter, compared to analyst estimates of $735.35 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Intuit Inc. will post $4.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be given a $0.34 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.36 annualized dividend and a dividend yield of 1.23%. This is a positive change from Intuit’s previous quarterly dividend of $0.30. Intuit’s payout ratio is 31.91%.
INTU has been the topic of a number of research analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $128.00 target price on shares of Intuit in a report on Wednesday, August 24th. Morgan Stanley cut shares of Intuit from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $109.54 to $105.00 in a report on Tuesday, September 13th. Oppenheimer Holdings Inc. increased their price target on shares of Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Goldman Sachs Group Inc. increased their price target on shares of Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. Finally, Wedbush reissued an “outperform” rating and issued a $755.00 price target (up from $715.00) on shares of Intuit in a report on Sunday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $194.34.
In other news, EVP Sasan K. Goodarzi sold 7,350 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.00, for a total value of $808,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 2,787 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $103.86, for a total transaction of $289,457.82. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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