Intuit Inc. (INTU) Position Increased by Coastline Trust Co
Coastline Trust Co grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 38.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,020 shares of the software maker’s stock after purchasing an additional 560 shares during the period. Coastline Trust Co’s holdings in Intuit were worth $319,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of INTU. PNC Financial Services Group Inc. raised its holdings in shares of Intuit by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 94,211 shares of the software maker’s stock worth $12,512,000 after purchasing an additional 494 shares during the period. Thrivent Financial For Lutherans raised its holdings in shares of Intuit by 3.0% during the second quarter. Thrivent Financial For Lutherans now owns 9,210 shares of the software maker’s stock worth $1,223,000 after purchasing an additional 270 shares during the period. Rafferty Asset Management LLC raised its holdings in shares of Intuit by 10.5% during the second quarter. Rafferty Asset Management LLC now owns 10,250 shares of the software maker’s stock worth $1,361,000 after purchasing an additional 971 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Intuit by 5.9% during the second quarter. UBS Asset Management Americas Inc. now owns 818,343 shares of the software maker’s stock worth $108,684,000 after purchasing an additional 45,333 shares during the period. Finally, Menta Capital LLC acquired a new stake in shares of Intuit during the second quarter worth $284,000. 86.03% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. JPMorgan Chase & Co. increased their target price on shares of Intuit to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 4th. Oppenheimer reissued a “buy” rating and set a $166.00 target price (up from $159.00) on shares of Intuit in a report on Tuesday, November 21st. Citigroup increased their target price on shares of Intuit to $170.00 in a report on Tuesday, November 21st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $148.00 target price on shares of Intuit in a report on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. Intuit has an average rating of “Hold” and a consensus target price of $157.53.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.30. The business had revenue of $886.00 million during the quarter, compared to analyst estimates of $855.74 million. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. research analysts expect that Intuit Inc. will post 3.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Wednesday, January 10th were given a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a yield of 0.95%. Intuit’s dividend payout ratio is presently 41.38%.
In related news, Chairman Scott D. Cook sold 184,733 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $158.98, for a total value of $29,368,852.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $151.35, for a total transaction of $326,613.30. Following the completion of the transaction, the executive vice president now owns 3,050 shares of the company’s stock, valued at approximately $461,617.50. The disclosure for this sale can be found here. Insiders sold a total of 965,938 shares of company stock valued at $149,469,127 in the last quarter. 5.59% of the stock is currently owned by 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 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.
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.