Somerville Kurt F held its position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,125 shares of the software maker’s stock at the end of the second quarter. Somerville Kurt F’s holdings in Intuit were worth $282,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in Intuit during the fourth quarter valued at $2,726,000. Kentucky Retirement Systems purchased a new stake in Intuit during the fourth quarter valued at $2,028,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Intuit during the fourth quarter worth approximately $905,000. Integrated Investment Consultants LLC raised its stake in Intuit by 0.6% in the first quarter. Integrated Investment Consultants LLC now owns 2,191 shares of the software maker’s stock worth $254,000 after buying an additional 13 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Intuit by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 212,236 shares of the software maker’s stock worth $24,617,000 after buying an additional 5,508 shares during the last quarter. 85.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intuit Inc. (INTU) opened at 138.89 on Tuesday. The company has a 50 day moving average price of $135.00 and a 200 day moving average price of $128.02. The company has a market cap of $35.59 billion, a P/E ratio of 39.91 and a beta of 1.15. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business posted $3.43 EPS. Intuit’s revenue was up 10.3% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post $4.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.36 annualized dividend and a yield of 0.98%. Intuit’s dividend payout ratio (DPR) is currently 39.19%.
INTU has been the topic of a number of analyst reports. Benchmark Co. assumed coverage on Intuit in a research note on Thursday, April 27th. They set a “buy” rating and a $140.00 price objective on the stock. Citigroup Inc. increased their target price on Intuit from $128.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Bank of America Corporation increased their target price on Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Deutsche Bank AG increased their target price on Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Zacks Investment Research upgraded Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Monday, May 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $135.63.
In other Intuit news, EVP Henry Tayloe Stansbury sold 3,742 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $137.92, for a total transaction of $516,096.64. Following the completion of the sale, the executive vice president now directly owns 4,580 shares in the company, valued at $631,673.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis D. Powell sold 16,686 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $136.82, for a total transaction of $2,282,978.52. Following the sale, the director now owns 4,554 shares of the company’s stock, valued at $623,078.28. The disclosure for this sale can be found here. Insiders sold a total of 151,265 shares of company stock valued at $21,085,104 over the last quarter. 5.70% of the stock is currently owned by company insiders.
About Intuit
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.
Receive News & Ratings for Intuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
