HL Financial Services LLC Maintains Stake in Intuit Inc. (INTU)
HL Financial Services LLC continued to hold its position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,028 shares of the company’s stock at the end of the second quarter. HL Financial Services LLC’s holdings in Intuit were worth $226,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. RS Investment Management Co. LLC increased its position in shares of 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 during the last quarter. Bank of Montreal Can acquired a new position in shares of Intuit during the second quarter valued at about $9,604,000. Shell Asset Management Co. increased its position in shares of 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 during the last quarter. Meeder Asset Management Inc. increased its position in shares of Intuit by 6.8% in the second quarter. Meeder Asset Management Inc. now owns 6,818 shares of the company’s stock valued at $761,000 after buying an additional 436 shares during the last quarter. Finally, YHB Investment Advisors Inc. increased its position in shares of Intuit by 1.9% in the second quarter. YHB Investment Advisors Inc. now owns 30,808 shares of the company’s stock valued at $3,439,000 after buying an additional 577 shares during the last quarter. 86.01% of the stock is currently owned by institutional investors.
Intuit Inc. (NASDAQ:INTU) traded up 0.64% during midday trading on Friday, reaching $110.01. 1,681,411 shares of the company were exchanged. The firm’s 50-day moving average price is $110.71 and its 200 day moving average price is $107.67. The stock has a market capitalization 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.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. The firm earned $754 million during the quarter, compared to analyst estimates of $735.35 million. Intuit had a net margin of 20.86% and a return on equity of 80.75%. Intuit’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) EPS. Equities analysts predict that Intuit Inc. will post $4.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be given a dividend of $0.34 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 5th. This represents a $1.36 annualized dividend and a dividend yield of 1.24%. Intuit’s dividend payout ratio (DPR) is 31.91%.
Several brokerages have issued reports on INTU. Morgan Stanley downgraded shares of Intuit from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $109.54 to $105.00 in a research report on Tuesday, September 13th. Oppenheimer Holdings Inc. lifted their target price on shares of Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $125.00 target price (down previously from $130.00) on shares of Intuit in a report on Wednesday, August 24th. Brean Capital lifted their target price on shares of Intuit from $130.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, August 24th. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $108.00 target price on shares of Intuit in a report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $194.34.
In other news, EVP Sasan K. Goodarzi sold 7,350 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $110.00, for a total transaction of $808,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $109.19, for a total transaction of $204,294.49. Following the transaction, the executive vice president now owns 2,541 shares of the company’s stock, valued at approximately $277,451.79. The disclosure for this sale can be found here. 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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