Teachers Advisors LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,473,763 shares of the software maker’s stock after buying an additional 15,231 shares during the period. Teachers Advisors LLC owned approximately 0.58% of Intuit worth $195,730,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of Intuit during the second quarter worth about $123,000. Guardian Life Insurance Co. of America boosted its stake in shares of Intuit by 0.5% during the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of Intuit by 5.8% during the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares during the period. Geneva Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth about $211,000. Finally, LLBH Private Wealth Management LLC acquired a new stake in shares of Intuit during the second quarter worth about $214,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
Several brokerages have recently weighed in on INTU. Moffett Nathanson began coverage on shares of Intuit in a research note on Thursday, September 7th. They set a “buy” rating and a $150.00 target price for the company. Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $148.00 to $141.00 in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Monday, May 29th. Barclays PLC reiterated an “equal weight” rating on shares of Intuit in a research note on Sunday, May 28th. Finally, CIBC increased their target price on shares of Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $138.28.
Shares of Intuit Inc. (NASDAQ INTU) traded down 1.04% on Tuesday, reaching $141.16. 690,612 shares of the company’s stock were exchanged. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81. The company has a market capitalization of $36.28 billion, a P/E ratio of 37.95 and a beta of 1.15. The stock’s 50-day moving average price is $137.62 and its 200-day moving average price is $130.71.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post $4.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is currently 36.56%.
In other news, Chairman Scott D. Cook sold 182,037 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $135.20, for a total transaction of $24,611,402.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Scott D. Cook sold 183,334 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $135.22, for a total transaction of $24,790,423.48. The disclosure for this sale can be found here. Insiders have sold 685,925 shares of company stock worth $94,039,250 in the last 90 days. 5.70% of the stock is owned by company insiders.
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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 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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