Citizens Financial Group Inc RI continued to hold its stake in shares of Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,900 shares of the software maker’s stock at the end of the 2nd quarter. Citizens Financial Group Inc RI’s holdings in Intuit were worth $518,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in INTU. BlackRock Inc. raised its position in shares of Intuit by 1,542.9% during the 1st quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after purchasing an additional 16,306,976 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Intuit during the 2nd quarter worth approximately $136,099,000. Morgan Stanley raised its position in shares of Intuit by 38.5% during the 1st quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after purchasing an additional 966,936 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Intuit by 249.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,296,148 shares of the software maker’s stock worth $150,340,000 after purchasing an additional 924,900 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its position in shares of Intuit by 21,749.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 887,304 shares of the software maker’s stock worth $6,681,000 after purchasing an additional 883,243 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. CIBC lifted their price objective on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th. Jefferies Group LLC assumed coverage on Intuit in a research report on Thursday, August 24th. They set a “buy” rating and a $157.00 price objective for the company. Deutsche Bank AG restated a “buy” rating and set a $150.00 price objective on shares of Intuit in a research report on Wednesday, August 23rd. Barclays PLC restated an “equal weight” rating on shares of Intuit in a research report on Sunday, May 28th. Finally, Bank of America Corporation restated a “buy” rating and set a $145.00 price objective on shares of Intuit in a research report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Intuit presently has an average rating of “Buy” and a consensus price target of $138.28.
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In other Intuit news, VP Mark J. Flournoy sold 1,868 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $142.31, for a total value of $265,835.08. Following the completion of the sale, the vice president now owns 1,713 shares in the company, valued at approximately $243,777.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 183,333 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $141.16, for a total transaction of $25,879,286.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 687,793 shares of company stock valued at $94,305,085. Insiders own 5.70% of the company’s stock.
Intuit Inc. (INTU) traded down 0.82% during mid-day trading on Wednesday, hitting $141.21. The stock had a trading volume of 136,372 shares. The stock has a market cap of $36.00 billion, a PE ratio of 37.96 and a beta of 1.15. The firm’s 50-day moving average is $137.76 and its 200 day moving average is $130.79. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company had revenue of $842.00 million during the quarter, compared to the consensus estimate of $808.82 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post $4.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be given a $0.39 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. Intuit’s dividend payout ratio is presently 36.56%.
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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