Trillium Asset Management LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 30.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,697 shares of the company’s stock after buying an additional 9,822 shares during the period. Trillium Asset Management LLC’s holdings in Intuit were worth $4,654,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC increased its position in shares of Intuit by 0.8% in the second quarter. Advisory Services Network LLC now owns 5,413 shares of the company’s stock worth $604,000 after buying an additional 41 shares in the last quarter. Dynamic Advisors Solutions LLC increased its position in shares of Intuit by 1.6% in the second quarter. Dynamic Advisors Solutions LLC now owns 7,262 shares of the company’s stock worth $811,000 after buying an additional 111 shares in the last quarter. LPL Financial LLC increased its position in shares of Intuit by 0.8% in the first quarter. LPL Financial LLC now owns 18,619 shares of the company’s stock worth $1,935,000 after buying an additional 155 shares in the last quarter. Smith & Howard Wealth Management LLC increased its position in shares of Intuit by 7.1% in the first quarter. Smith & Howard Wealth Management LLC now owns 3,938 shares of the company’s stock worth $410,000 after buying an additional 261 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its position in shares of Intuit by 6.2% in the second quarter. First Midwest Bank Trust Division now owns 5,273 shares of the company’s stock worth $588,000 after buying an additional 310 shares in the last quarter. Institutional investors own 86.01% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.21% on Thursday, hitting $108.84. The company had a trading volume of 1,251,338 shares. The firm has a 50-day moving average price of $110.40 and a 200 day moving average price of $107.90. The company has a market capitalization of $28.07 billion, a P/E ratio of 29.47 and a beta of 1.10. Intuit Inc. has a 12-month low of $88.17 and a 12-month high of $116.97.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The business had revenue of $754 million for the quarter, compared to analyst estimates of $735.35 million. During the same quarter last year, the firm earned ($0.05) EPS. Intuit’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post $4.35 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.25%. This is an increase from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, October 5th. Intuit’s dividend payout ratio (DPR) is currently 31.91%.
Several equities research analysts recently commented on the company. Brean Capital boosted their price target on Intuit from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Canaccord Genuity reissued a “buy” rating and issued a $750.00 price target on shares of Intuit in a research note on Friday, July 22nd. Deutsche Bank AG reissued a “buy” rating and issued a $125.00 price target (down previously from $130.00) on shares of Intuit in a research note on Wednesday, August 24th. Barclays PLC cut Intuit from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $110.00 to $116.00 in a research note on Friday, July 15th. Finally, Goldman Sachs Group Inc. boosted their price target on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $194.34.
In other news, EVP Sasan K. Goodarzi sold 7,350 shares of Intuit stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $109.19, for a total value of $204,294.49. Following the transaction, the executive vice president now owns 2,541 shares of the company’s stock, valued at $277,451.79. The disclosure for this sale can be found here. 5.50% of the stock is 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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.
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