Boston Advisors LLC Has $1,079,000 Position in Intuit Inc. (INTU)
Boston Advisors LLC maintained its stake in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,663 shares of the company’s stock at the end of the second quarter. Boston Advisors LLC’s holdings in Intuit were worth $1,079,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Headinvest LLC raised its stake in Intuit by 2.8% in the second quarter. Headinvest LLC now owns 34,439 shares of the company’s stock valued at $3,844,000 after buying an additional 932 shares in the last quarter. Strs Ohio raised its stake in Intuit by 209.6% in the second quarter. Strs Ohio now owns 567,793 shares of the company’s stock valued at $63,371,000 after buying an additional 384,420 shares in the last quarter. RS Investment Management Co. LLC raised its stake in Intuit by 0.8% in the second quarter. RS Investment Management Co. LLC now owns 184,640 shares of the company’s stock valued at $20,608,000 after buying an additional 1,490 shares in the last quarter. Bank of Montreal Can acquired a new stake in Intuit during the second quarter valued at approximately $9,604,000. Finally, Shell Asset Management Co. raised its stake in Intuit by 21.5% in the second quarter. Shell Asset Management Co. now owns 50,739 shares of the company’s stock valued at $5,663,000 after buying an additional 8,989 shares in the last quarter. 86.01% of the stock is owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.64% during mid-day trading on Friday, reaching $110.01. 1,681,411 shares of the company’s stock were exchanged. The stock has a market cap of $28.38 billion, a price-to-earnings ratio of 29.79 and a beta of 1.05. Intuit Inc. has a 52-week low of $88.17 and a 52-week high of $116.97. The stock’s 50-day moving average is $110.71 and its 200-day moving average is $107.67.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ 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 firm 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 business’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post $4.35 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be paid a $0.34 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.36 dividend on an annualized basis and a yield of 1.24%. This is a positive change from Intuit’s previous quarterly dividend of $0.30. Intuit’s payout ratio is presently 31.91%.
A number of equities research analysts have recently issued reports on INTU shares. Goldman Sachs Group Inc. upgraded shares of Intuit from a “buy” rating to a “conviction-buy” rating in a report on Friday, June 24th. Vetr upgraded shares of Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 price target on the stock in a report on Monday, July 18th. Morgan Stanley restated an “equal weight” rating and set a $105.00 price target on shares of Intuit in a report on Thursday, August 25th. Royal Bank Of Canada cut their price target on shares of Intuit from $113.00 to $93.00 and set a “sector perform” rating on the stock in a report on Monday, August 15th. Finally, Credit Suisse Group AG restated a “neutral” rating and set a $100.00 price target on shares of Intuit in a report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. Intuit currently has an average rating of “Buy” and a consensus price target of $194.34.
In other Intuit news, CFO R Neil Williams sold 6,636 shares of Intuit stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.06, for a total value of $730,358.16. Following the transaction, the chief financial officer now owns 4,727 shares of the company’s stock, valued at $520,253.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 11,503 shares of Intuit stock in a transaction that occurred 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 approximately $74,684.90. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company 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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