PNC Financial Services Group Inc. boosted its stake in Intuit Inc. (NASDAQ:INTU) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,211 shares of the software maker’s stock after purchasing an additional 494 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Intuit were worth $12,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Guardian Life Insurance Co. of America raised its stake in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after purchasing an additional 5 shares in the last quarter. FineMark National Bank & Trust raised its stake in Intuit by 0.4% in the second quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock valued at $361,000 after purchasing an additional 11 shares in the last quarter. Cue Financial Group Inc. raised its stake in Intuit by 0.3% in the second quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock valued at $930,000 after purchasing an additional 20 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in Intuit by 0.6% in the first quarter. Harbour Capital Advisors LLC now owns 4,061 shares of the software maker’s stock valued at $471,000 after purchasing an additional 25 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in Intuit by 0.4% in the second quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock valued at $935,000 after purchasing an additional 27 shares in the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on INTU shares. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Monday, August 28th. Citigroup Inc. lifted their price target on shares of Intuit from $128.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Deutsche Bank AG lifted their price target on shares of Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Bank of America Corporation lifted their price target on shares of Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Finally, Credit Suisse Group lifted their price target on shares of Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $142.74.

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In other news, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $135.22, for a total value of $24,790,423.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $145.19, for a total value of $26,618,118.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,056,234 shares of company stock valued at $147,058,222. 5.70% of the stock is currently owned by company insiders.

Intuit Inc. (NASDAQ INTU) opened at 144.49 on Friday. The stock has a market cap of $36.84 billion, a price-to-earnings ratio of 38.84 and a beta of 1.15. The stock has a 50 day moving average price of $138.84 and a 200 day moving average price of $131.54. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $146.04.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company had revenue of $842.00 million for the quarter, compared to the consensus estimate of $808.82 million. During the same quarter last year, the company earned $0.08 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Analysts expect that Intuit Inc. will post $4.95 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 6th. This is a boost from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a yield of 1.08%. Intuit’s dividend payout ratio (DPR) is 36.56%.

About Intuit

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.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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