L & S Advisors Inc lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,206 shares of the software maker’s stock after selling 379 shares during the quarter. Intuit makes up about 1.0% of L & S Advisors Inc’s investment portfolio, making the stock its 17th largest position. L & S Advisors Inc’s holdings in Intuit were worth $7,894,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Intuit by 2.5% in the 2nd quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock valued at $5,401,090,000 after buying an additional 503,291 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Intuit by 2.6% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 354,953 shares of the software maker’s stock valued at $92,760,000 after buying an additional 9,036 shares in the last quarter. Qtron Investments LLC boosted its stake in Intuit by 57.0% in the 2nd quarter. Qtron Investments LLC now owns 3,333 shares of the software maker’s stock valued at $871,000 after buying an additional 1,210 shares in the last quarter. Tiemann Investment Advisors LLC boosted its stake in Intuit by 3.7% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 2,092 shares of the software maker’s stock valued at $547,000 after buying an additional 75 shares in the last quarter. Finally, ETRADE Capital Management LLC boosted its stake in Intuit by 13.4% in the 2nd quarter. ETRADE Capital Management LLC now owns 8,297 shares of the software maker’s stock valued at $2,168,000 after buying an additional 981 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.
INTU has been the topic of several recent analyst reports. Barclays boosted their price target on Intuit from $245.00 to $276.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Morgan Stanley boosted their price objective on Intuit from $244.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. UBS Group boosted their price objective on Intuit from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Citigroup boosted their price objective on Intuit from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, Deutsche Bank boosted their price objective on Intuit from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $277.00.
Intuit stock opened at $268.31 on Friday. The firm has a market cap of $69.59 billion, a P/E ratio of 48.08, a P/E/G ratio of 2.61 and a beta of 1.10. Intuit Inc. has a 52 week low of $182.61 and a 52 week high of $295.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.83 and a current ratio of 1.83. The business’s fifty day moving average is $278.51 and its two-hundred day moving average is $262.64.
Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.37. The company had revenue of $994.00 million during the quarter, compared to the consensus estimate of $964.02 million. Intuit had a return on equity of 43.86% and a net margin of 22.95%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. On average, equities research analysts predict that Intuit Inc. will post 6.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.79%. This is an increase from Intuit’s previous quarterly dividend of $0.47. Intuit’s payout ratio is presently 33.69%.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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