Whittier Trust Co. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,217 shares of the company’s stock after buying an additional 100 shares during the period. Whittier Trust Co.’s holdings in Intuit were worth $359,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in INTU. Advisory Services Network LLC raised 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 valued at $604,000 after buying an additional 41 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Intuit by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,093 shares of the company’s stock valued at $234,000 after buying an additional 51 shares in the last quarter. Dynamic Advisors Solutions LLC raised 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 valued at $811,000 after buying an additional 111 shares in the last quarter. LPL Financial LLC raised 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 valued at $1,935,000 after buying an additional 155 shares in the last quarter. Finally, Smith & Howard Wealth Management LLC raised 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 valued at $410,000 after buying an additional 261 shares in the last quarter. 86.01% of the stock is owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.58% on Thursday, hitting $106.91. The company had a trading volume of 703,854 shares. The stock’s 50-day moving average is $109.68 and its 200 day moving average is $108.07. The company has a market capitalization of $27.58 billion, a price-to-earnings ratio of 28.95 and a beta of 1.10. Intuit Inc. has a 52 week low of $88.17 and a 52 week high of $116.97.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The company earned $754 million during the quarter, compared to analysts’ expectations of $735.35 million. During the same period last year, the business posted ($0.05) earnings per share. The firm’s revenue 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 firm 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. The ex-dividend date of this dividend is Wednesday, October 5th. This is a boost from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 1.26%. Intuit’s dividend payout ratio (DPR) is 36.17%.
INTU has been the subject of several recent analyst reports. Brean Capital reaffirmed a “buy” rating on shares of Intuit in a research report on Sunday, June 26th. Vetr lowered Intuit from a “buy” rating to a “hold” rating and set a $108.50 price target for the company. in a research report on Wednesday, June 15th. Barclays PLC lowered Intuit from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $110.00 to $116.00 in a research report on Friday, July 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $750.00 price target on shares of Intuit in a research report on Friday, July 22nd. Finally, Zacks Investment Research lowered Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $194.34.
In other Intuit news, EVP Henry Tayloe Stansbury sold 11,503 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $111.47, for a total value of $1,282,239.41. Following the completion of the sale, the executive vice president now directly owns 670 shares in the company, valued at $74,684.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $110.00, for a total value of $808,500.00. 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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