Intuit Inc. (NASDAQ:INTU) Stake Increased by Advisor Partners LLC
Advisor Partners LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,202 shares of the software maker’s stock after buying an additional 166 shares during the period. Advisor Partners LLC’s holdings in Intuit were worth $691,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Harvest Capital Management Inc increased its position in shares of Intuit by 3.1% in the first quarter. Harvest Capital Management Inc now owns 2,010 shares of the software maker’s stock valued at $233,000 after buying an additional 60 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Intuit during the first quarter valued at $522,000. Parametrica Management Ltd purchased a new position in shares of Intuit during the first quarter valued at $580,000. Alpha Windward LLC increased its position in shares of Intuit by 1.1% in the first quarter. Alpha Windward LLC now owns 2,287 shares of the software maker’s stock valued at $265,000 after buying an additional 25 shares in the last quarter. Finally, Gradient Investments LLC purchased a new position in shares of Intuit during the first quarter valued at $448,000. 85.57% of the stock is owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 136.90 on Monday. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $143.81. The stock has a market capitalization of $35.08 billion, a PE ratio of 39.34 and a beta of 1.15. The stock’s 50 day moving average is $135.86 and its 200 day moving average is $126.82.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. Intuit’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.43 earnings per share. Analysts anticipate that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a yield of 0.99%. Intuit’s payout ratio is presently 39.19%.
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Several brokerages recently weighed in on INTU. Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $148.00 to $141.00 in a report on Monday, June 26th. Zacks Investment Research raised shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price for the company in a report on Monday, May 29th. Barclays PLC reaffirmed an “equal weight” rating on shares of Intuit in a report on Sunday, May 28th. CIBC upped their target price on shares of Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Finally, Stifel Nicolaus upped their target price on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, May 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 company has an average rating of “Buy” and a consensus target price of $135.63.
In related news, EVP Laura A. Fennell sold 74,052 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $139.46, for a total transaction of $10,327,291.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The disclosure for this sale can be found here. Insiders have sold 151,265 shares of company stock worth $21,085,104 over the last 90 days. 5.70% of the stock is currently owned by company insiders.
Intuit Company Profile
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 ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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