Intuit Inc. (INTU) Shares Bought by Headinvest LLC
Headinvest LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,439 shares of the company’s stock after buying an additional 932 shares during the period. Intuit makes up 1.5% of Headinvest LLC’s investment portfolio, making the stock its 27th largest position. Headinvest LLC’s holdings in Intuit were worth $3,844,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ngam Advisors L.P. increased its stake in Intuit by 27.2% in the first quarter. Ngam Advisors L.P. now owns 60,538 shares of the company’s stock valued at $6,297,000 after buying an additional 12,962 shares during the last quarter. Dubuque Bank & Trust Co. increased its stake in Intuit by 8.3% in the first quarter. Dubuque Bank & Trust Co. now owns 1,625 shares of the company’s stock valued at $169,000 after buying an additional 125 shares during the last quarter. CIBC World Markets Inc. bought a new stake in Intuit during the first quarter valued at $440,000. Addenda Capital Inc. increased its stake in Intuit by 0.3% in the first quarter. Addenda Capital Inc. now owns 38,690 shares of the company’s stock valued at $4,024,000 after buying an additional 114 shares during the last quarter. Finally, Outfitter Advisors LTD. increased its stake in Intuit by 15.4% in the first quarter. Outfitter Advisors LTD. now owns 62,222 shares of the company’s stock valued at $6,472,000 after buying an additional 8,315 shares during the last quarter. Hedge funds and other institutional investors own 86.01% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.02% on Thursday, hitting $110.76. The stock had a trading volume of 1,255,609 shares. The firm’s 50-day moving average price is $111.08 and its 200 day moving average price is $107.22. Intuit Inc. has a 12 month low of $85.61 and a 12 month high of $116.97. The firm has a market cap of $28.57 billion, a P/E ratio of 29.99 and a beta of 1.05.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. The company earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. Analysts anticipate that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, October 5th. This is an increase from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 1.23%. Intuit’s payout ratio is currently 31.91%.
Several equities analysts recently issued reports on the company. Barclays PLC cut Intuit from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $110.00 to $116.00 in a research report on Friday, July 15th. Vetr raised Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 price objective on the stock in a research report on Monday, July 18th. Wedbush reaffirmed an “outperform” rating and issued a $755.00 price objective (up from $715.00) on shares of Intuit in a research report on Sunday, July 24th. Citigroup Inc. reaffirmed a “buy” rating and issued a $128.00 price objective on shares of Intuit in a research report on Wednesday, August 24th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Intuit in a research report on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Intuit presently has a consensus rating of “Buy” and a consensus price target of $194.34.
In related news, EVP Henry Tayloe Stansbury sold 11,503 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $111.47, for a total transaction of $1,282,239.41. Following the completion of the transaction, the executive vice president now directly owns 670 shares in the company, valued at $74,684.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sasan K. Goodarzi sold 18,567 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $109.78, for a total transaction of $2,038,285.26. Following the transaction, the executive vice president now owns 1,492 shares of the company’s stock, valued at $163,791.76. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
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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