LS Investment Advisors LLC Has $819,000 Stake in Intuit Inc. (INTU)
LS Investment Advisors LLC cut its position in Intuit Inc. (NASDAQ:INTU) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,336 shares of the company’s stock after selling 131 shares during the period. LS Investment Advisors LLC’s holdings in Intuit were worth $819,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Alpha Windward LLC increased its position in shares of Intuit by 2,340.6% in the second quarter. Alpha Windward LLC now owns 1,562 shares of the company’s stock valued at $174,000 after buying an additional 1,498 shares during the period. Telemus Capital LLC purchased a new position in shares of Intuit during the second quarter valued at about $201,000. Cape Cod Five Cents Savings Bank purchased a new position in shares of Intuit during the second quarter valued at about $212,000. Independent Portfolio Consultants Inc. increased its position in shares of Intuit by 18.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,885 shares of the company’s stock valued at $322,000 after buying an additional 440 shares during the period. Finally, Wealthsource Partners LLC purchased a new position in shares of Intuit during the first quarter valued at about $374,000. 86.01% of the stock is owned by hedge funds and other institutional investors.
Intuit Inc. (NASDAQ:INTU) traded up 0.50% during trading on Wednesday, reaching $107.53. The company’s stock had a trading volume of 1,628,836 shares. The firm has a market cap of $27.74 billion, a P/E ratio of 29.12 and a beta of 1.10. The stock’s 50 day moving average is $109.86 and its 200-day moving average is $108.07. Intuit Inc. has a 52 week low of $88.17 and a 52 week high of $116.97.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.10. The business earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. Intuit had a return on equity of 80.75% and a net margin of 20.86%. Intuit’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. On average, equities research analysts forecast that Intuit Inc. will post $4.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend 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 dividend yield of 1.26%. Intuit’s dividend payout ratio (DPR) is presently 36.17%.
INTU has been the subject of several analyst reports. Canaccord Genuity reissued a “buy” rating and set a $750.00 price target on shares of Intuit in a report on Friday, July 22nd. Goldman Sachs Group Inc. reissued a “buy” rating and set a $123.00 price target (up previously from $117.00) on shares of Intuit in a report on Thursday, June 23rd. Brean Capital reissued a “buy” rating and set a $130.00 price target on shares of Intuit in a report on Monday, June 20th. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Wednesday, June 29th. Finally, Citigroup Inc. reissued a “buy” rating and set a $128.00 price target on shares of Intuit in a report on Wednesday, August 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Intuit presently has a consensus rating of “Buy” and an average price target of $194.34.
In related news, EVP Sasan K. Goodarzi sold 7,350 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sasan K. Goodarzi sold 18,567 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $109.78, for a total value 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.
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.