Sand Hill Global Advisors LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 10.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,980 shares of the software maker’s stock after purchasing an additional 193 shares during the period. Sand Hill Global Advisors LLC’s holdings in Intuit were worth $263,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America boosted its stake in Intuit by 0.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after acquiring an additional 5 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in Intuit during the 2nd quarter valued at $123,000. Johnson Financial Group Inc. boosted its stake in Intuit by 5.8% during the 1st quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after acquiring an additional 59 shares during the last quarter. Lincoln National Corp bought a new position in shares of Intuit in the 1st quarter worth about $205,000. Finally, Pax World Management LLC bought a new position in shares of Intuit in the 1st quarter worth about $205,000. 85.96% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the stock. Argus began coverage on shares of Intuit in a research report on Wednesday. They issued a “buy” rating and a $165.00 price target on the stock. Wells Fargo & Company raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price on the stock in a research note on Thursday. William Blair started coverage on shares of Intuit in a research note on Tuesday. They set an “outperform” rating on the stock. Moffett Nathanson started coverage on shares of Intuit in a research note on Thursday, September 7th. They set a “buy” rating and a $150.00 target price on the stock. Finally, Citigroup Inc. cut shares of Intuit from a “buy” rating to a “neutral” rating and lowered their target price for the company from $148.00 to $141.00 in a research note on Monday, June 26th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Intuit presently has a consensus rating of “Buy” and a consensus target price of $142.74.
In other Intuit news, CFO R Neil Williams sold 184,585 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total value of $26,046,789.35. Following the transaction, the chief financial officer now directly owns 64,620 shares in the company, valued at approximately $9,118,528.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,056,234 shares of company stock worth $147,058,222. 5.70% of the stock is currently owned by corporate insiders.
Shares of Intuit Inc. (INTU) opened at 146.32 on Friday. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $146.72. The firm has a market capitalization of $37.31 billion, a PE ratio of 39.33 and a beta of 1.15. The firm has a 50-day moving average of $138.84 and a 200-day moving average of $131.54.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS 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 firm had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Intuit Inc. will post $4.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, October 6th. Intuit’s payout ratio is presently 36.56%.
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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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