Alley Co LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 21,030 shares of the company’s stock after buying an additional 411 shares during the period. Alley Co LLC’s holdings in Intuit were worth $2,347,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc RI boosted its position in Intuit by 62.5% in the first quarter. Citizens Financial Group Inc RI now owns 3,900 shares of the company’s stock valued at $406,000 after buying an additional 1,500 shares during the period. Hancock Holding Co. purchased a new position in Intuit during the first quarter valued at approximately $2,773,000. Mariner Wealth Advisors LLC boosted its position in Intuit by 136.5% in the first quarter. Mariner Wealth Advisors LLC now owns 5,298 shares of the company’s stock valued at $551,000 after buying an additional 3,058 shares during the period. Wellington Management Group LLP boosted its position in Intuit by 13.0% in the first quarter. Wellington Management Group LLP now owns 1,205,266 shares of the company’s stock valued at $125,360,000 after buying an additional 138,579 shares during the period. Finally, Geode Capital Management LLC boosted its position in Intuit by 3.9% in the first quarter. Geode Capital Management LLC now owns 2,297,466 shares of the company’s stock valued at $238,523,000 after buying an additional 85,541 shares during the period. Hedge funds and other institutional investors own 86.04% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded down 0.10% on Monday, hitting $106.88. The stock had a trading volume of 732,072 shares. The company has a market capitalization of $27.57 billion, a PE ratio of 28.94 and a beta of 1.10. The company has a 50 day moving average of $109.50 and a 200 day moving average of $108.09. Intuit Inc. has a 12-month low of $88.17 and a 12-month high of $116.97.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The company earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post $4.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.27%. 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 payout ratio is presently 36.17%.
Several equities analysts have commented on INTU shares. Goldman Sachs Group Inc. raised Intuit from a “buy” rating to a “conviction-buy” rating in a report on Friday, June 24th. Vetr raised Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 price target for the company in a report on Monday, July 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $105.00 price target on shares of Intuit in a report on Thursday, August 25th. Royal Bank Of Canada cut their price target on Intuit from $113.00 to $93.00 and set a “sector perform” rating for the company in a report on Monday, August 15th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Intuit in a report 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 company has an average rating of “Buy” and a consensus target price of $194.34.
In other Intuit news, CFO R Neil Williams sold 18,567 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $111.47, for a total transaction of $2,069,663.49. Following the completion of the transaction, the chief financial officer now directly owns 4,727 shares in the company, valued at $526,918.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.00, for a total transaction of $808,500.00. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by 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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