Roberts Glore & Co. Inc. IL decreased its stake in Intuit Inc. (NASDAQ:INTU) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,260 shares of the company’s stock after selling 220 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Intuit were worth $587,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. RS Investment Management Co. LLC increased its stake in Intuit by 0.8% in the second quarter. RS Investment Management Co. LLC now owns 184,640 shares of the company’s stock worth $20,608,000 after buying an additional 1,490 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of Intuit by 1.4% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 139,874 shares of the company’s stock worth $15,611,000 after buying an additional 1,955 shares during the last quarter. Strs Ohio increased its stake in shares of Intuit by 209.6% in the second quarter. Strs Ohio now owns 567,793 shares of the company’s stock worth $63,371,000 after buying an additional 384,420 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Intuit by 166.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 689,800 shares of the company’s stock worth $71,746,000 after buying an additional 430,600 shares during the last quarter. Finally, Mar Vista Investment Partners LLC increased its stake in shares of Intuit by 5.3% in the second quarter. Mar Vista Investment Partners LLC now owns 577,822 shares of the company’s stock worth $64,491,000 after buying an additional 29,287 shares during the last quarter. Institutional investors own 86.01% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.18% during midday trading on Friday, hitting $106.99. 1,100,239 shares of the stock traded hands. Intuit Inc. has a 52 week low of $88.17 and a 52 week high of $116.97. The firm has a market capitalization of $27.60 billion, a PE ratio of 28.97 and a beta of 1.10. The company’s 50-day moving average is $109.59 and its 200 day moving average is $108.06.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.10. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The company had revenue of $754 million for the quarter, compared to analysts’ expectations of $735.35 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Intuit’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post $4.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.36 annualized dividend and a yield of 1.27%. This is a positive change from Intuit’s previous quarterly dividend of $0.30. Intuit’s payout ratio is presently 36.17%.
A number of brokerages have weighed in on INTU. Morgan Stanley downgraded Intuit from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $109.54 to $105.00 in a report on Tuesday, September 13th. Oppenheimer Holdings Inc. increased their price target on Intuit from $113.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. Deutsche Bank AG reiterated a “buy” rating and set a $125.00 price target (down from $130.00) on shares of Intuit in a report on Wednesday, August 24th. Brean Capital increased their price target on Intuit from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Finally, RBC Capital Markets reissued a “hold” rating and set a $108.00 price objective on shares of Intuit in a research report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $194.34.
In related news, EVP Henry Tayloe Stansbury sold 1,871 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $109.19, for a total transaction of $204,294.49. Following the sale, the executive vice president now owns 2,541 shares of the company’s stock, valued at $277,451.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO R Neil Williams sold 18,567 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $111.47, for a total transaction of $2,069,663.49. Following the sale, the chief financial officer now directly owns 4,727 shares in the company, valued at approximately $526,918.69. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.