B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 55.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,952 shares of the software maker’s stock after selling 2,454 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Intuit were worth $399,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its position in shares of Intuit by 0.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,974,690 shares of the software maker’s stock worth $607,744,000 after purchasing an additional 16,086 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Intuit in the 2nd quarter worth about $356,000. Aperio Group LLC increased its position in shares of Intuit by 6.5% in the 2nd quarter. Aperio Group LLC now owns 218,719 shares of the software maker’s stock worth $44,685,000 after purchasing an additional 13,397 shares during the last quarter. Whittier Trust Co. increased its position in shares of Intuit by 23.8% in the 2nd quarter. Whittier Trust Co. now owns 3,547 shares of the software maker’s stock worth $286,000 after purchasing an additional 683 shares during the last quarter. Finally, Global Financial Private Capital LLC increased its position in shares of Intuit by 7.8% in the 2nd quarter. Global Financial Private Capital LLC now owns 3,725 shares of the software maker’s stock worth $761,000 after purchasing an additional 271 shares during the last quarter. 87.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:INTU opened at $227.54 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.16. Intuit Inc. has a fifty-two week low of $140.21 and a fifty-two week high of $229.86. The stock has a market cap of $58.38 billion, a P/E ratio of 50.23, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. Intuit had a net margin of 20.31% and a return on equity of 67.39%. The business had revenue of $988.00 million during the quarter, compared to the consensus estimate of $952.67 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. equities analysts expect that Intuit Inc. will post 5.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Wednesday, October 10th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, October 9th. This is an increase from Intuit’s previous quarterly dividend of $0.39. Intuit’s dividend payout ratio is currently 34.44%.
Several equities research analysts have recently weighed in on the stock. Oppenheimer boosted their target price on shares of Intuit from $181.00 to $206.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 23rd. Barclays reissued a “hold” rating and issued a $190.00 target price on shares of Intuit in a research report on Sunday, May 20th. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $243.00 target price for the company in a research report on Tuesday, August 28th. Citigroup boosted their target price on shares of Intuit from $221.00 to $224.00 and gave the stock an “outperform” rating in a research report on Friday, August 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $176.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 23rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $216.94.
In other Intuit news, Chairman Scott D. Cook sold 100,000 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $220.30, for a total transaction of $22,030,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 19,018 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $218.86, for a total transaction of $4,162,279.48. Following the transaction, the executive vice president now directly owns 1,890 shares of the company’s stock, valued at $413,645.40. The disclosure for this sale can be found here. Insiders have sold a total of 368,201 shares of company stock valued at $78,754,509 over the last three months. 5.59% of the stock is currently owned by company insiders.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.
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