Alta Capital Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.5% during the third quarter, Holdings Channel reports. The firm owned 149,374 shares of the company’s stock after selling 7,036 shares during the period. Alta Capital Management LLC’s holdings in Intuit were worth $16,432,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Capital World Investors raised its position in Intuit by 6.3% in the second quarter. Capital World Investors now owns 25,318,000 shares of the company’s stock valued at $2,825,742,000 after buying an additional 1,498,606 shares during the period. AJO LP raised its position in Intuit by 556.3% in the second quarter. AJO LP now owns 650,488 shares of the company’s stock valued at $72,601,000 after buying an additional 551,369 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in Intuit by 677.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 621,388 shares of the company’s stock valued at $69,353,000 after buying an additional 541,504 shares during the period. Emerald Acquisition Ltd. bought a new position in Intuit during the second quarter valued at about $54,927,000. Finally, FMR LLC raised its position in Intuit by 10.9% in the second quarter. FMR LLC now owns 4,090,210 shares of the company’s stock valued at $456,508,000 after buying an additional 401,036 shares during the period. Institutional investors own 84.99% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded down 0.16% during mid-day trading on Monday, hitting $115.88. The stock had a trading volume of 696,694 shares. The firm has a market cap of $29.74 billion, a P/E ratio of 31.00 and a beta of 1.08. Intuit Inc. has a 12-month low of $88.17 and a 12-month high of $116.97. The stock has a 50-day moving average price of $109.39 and a 200 day moving average price of $109.58.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 17th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $778 million for the quarter, compared to analysts’ expectations of $754.36 million. Intuit had a net margin of 20.59% and a return on equity of 82.77%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Equities analysts anticipate that Intuit Inc. will post $4.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 18th. Stockholders of record on Tuesday, January 10th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, January 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.17%. Intuit’s dividend payout ratio is 36.27%.
Several equities research analysts have weighed in on INTU shares. Citigroup Inc. reissued a “buy” rating and issued a $128.00 price target on shares of Intuit in a report on Wednesday, August 24th. Deutsche Bank AG reissued a “buy” rating and issued a $130.00 price target on shares of Intuit in a report on Friday, November 18th. RBC Capital Markets reissued a “sector perform” rating and issued a $113.00 price target (up previously from $93.00) on shares of Intuit in a report on Monday, August 15th. Royal Bank Of Canada lowered their price target on Intuit from $113.00 to $93.00 and set a “sector perform” rating for the company in a report on Monday, August 15th. Finally, Zacks Investment Research downgraded Intuit from a “hold” rating to a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $200.83.
In related news, CFO R Neil Williams sold 18,567 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $111.47, for a total value of $2,069,663.49. Following the sale, the chief financial officer now directly owns 4,727 shares of the company’s stock, valued at approximately $526,918.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 26,189 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $115.59, for a total transaction of $3,027,186.51. Following the completion of the sale, the executive vice president now directly owns 26,859 shares in the company, valued at $3,104,631.81. The disclosure for this sale can be found here. 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 Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.