YHB Investment Advisors Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,405 shares of the software maker’s stock after buying an additional 3,823 shares during the period. YHB Investment Advisors Inc.’s holdings in Intuit were worth $4,569,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock valued at $2,014,036,000 after buying an additional 16,306,976 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Intuit by 2.2% in the first quarter. Vanguard Group Inc. now owns 16,373,494 shares of the software maker’s stock worth $1,899,162,000 after buying an additional 359,330 shares during the period. Morgan Stanley raised its stake in shares of Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after buying an additional 966,936 shares during the period. Janus Capital Management LLC raised its stake in shares of Intuit by 5.4% in the first quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after buying an additional 138,184 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Intuit by 7.8% in the first quarter. Geode Capital Management LLC now owns 2,686,750 shares of the software maker’s stock worth $311,244,000 after buying an additional 194,751 shares during the period. 85.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intuit Inc. (NASDAQ INTU) traded up 1.07% during mid-day trading on Friday, reaching $136.60. The company had a trading volume of 747,234 shares. The stock has a market capitalization of $35.00 billion, a price-to-earnings ratio of 39.25 and a beta of 1.15. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81. The firm has a 50-day moving average price of $135.04 and a 200-day moving average price of $127.75.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.03. Intuit had a return on equity of 311.57% and a net margin of 37.94%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm posted $3.43 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post $4.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were paid a $0.34 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. Intuit’s payout ratio is presently 39.19%.
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INTU has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, May 24th. Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and cut their price target for the stock from $148.00 to $141.00 in a report on Monday, June 26th. Deutsche Bank AG boosted their price target on shares of Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. BidaskClub downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Royal Bank Of Canada upped their price objective on shares of Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. One 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’s stock. The company currently has an average rating of “Buy” and an average target price of $135.63.
In other Intuit news, EVP Laura A. Fennell sold 74,052 shares of Intuit stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total transaction of $10,327,291.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total value of $253,127.59. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock valued at $21,085,104 over the last ninety days. Insiders own 5.70% of the company’s stock.
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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