Concert Wealth Management Inc. boosted its position in Intuit Inc. (NASDAQ:INTU) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,114 shares of the company’s stock after buying an additional 147 shares during the period. Concert Wealth Management Inc.’s holdings in Intuit were worth $238,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Intuit by 2.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the company’s stock worth $300,000 after buying an additional 60 shares during the period. Whittier Trust Co. raised its stake in shares of Intuit by 3.2% in the second quarter. Whittier Trust Co. now owns 3,217 shares of the company’s stock worth $359,000 after buying an additional 100 shares during the last quarter. Mar Vista Investment Partners LLC raised 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. LMR Partners LLP bought a new stake in shares of Intuit during the second quarter worth $1,975,000. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Intuit by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,093 shares of the company’s stock worth $234,000 after buying an additional 51 shares during the last quarter. 86.01% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.18% during mid-day trading on Friday, reaching $106.99. 1,100,242 shares of the company traded hands. The firm has a market capitalization of $27.60 billion, a price-to-earnings ratio of 28.97 and a beta of 1.10. Intuit Inc. has a 52 week low of $88.17 and a 52 week high of $116.97. The firm has a 50-day moving average price of $109.50 and a 200 day moving average price of $108.09.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 period in the prior year, the business earned ($0.05) EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts anticipate that Intuit Inc. will post $4.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.27%. This is a boost from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 5th. Intuit’s dividend payout ratio is presently 36.17%.
A number of brokerages have recently weighed in on INTU. Brean Capital lifted their target price on shares of Intuit from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Canaccord Genuity reaffirmed a “buy” rating and set a $750.00 target price on shares of Intuit in a research note on Friday, July 22nd. Deutsche Bank AG reaffirmed a “buy” rating and set a $125.00 target price (down previously from $130.00) on shares of Intuit in a research note on Wednesday, August 24th. Barclays PLC lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $110.00 to $116.00 in a research note on Friday, July 15th. Finally, Goldman Sachs Group Inc. lifted their target price on shares of Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $194.34.
In other news, CFO R Neil Williams sold 6,636 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $110.06, for a total value of $730,358.16. Following the sale, the chief financial officer now directly owns 4,727 shares in the company, valued at approximately $520,253.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’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 completion of the sale, the executive vice president now owns 2,541 shares in the company, valued at $277,451.79. The disclosure for this sale can be found here. Company 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.