ING Groep NV increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 16.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,507 shares of the company’s stock after buying an additional 1,332 shares during the period. ING Groep NV’s holdings in Intuit were worth $1,061,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in INTU. Adage Capital Partners GP L.L.C. raised its position 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 period. Strs Ohio raised its position in Intuit by 209.6% in the second quarter. Strs Ohio now owns 567,793 shares of the company’s stock valued at $63,371,000 after buying an additional 384,420 shares during the last quarter. Calamos Advisors LLC acquired a new position in Intuit during the second quarter valued at $29,077,000. First Quadrant L P CA raised its position in Intuit by 214,987.7% in the second quarter. First Quadrant L P CA now owns 245,200 shares of the company’s stock valued at $27,367,000 after buying an additional 245,086 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Intuit by 13.0% in the first quarter. Wellington Management Group LLP now owns 1,205,266 shares of the company’s stock valued at $125,360,000 after buying an additional 138,579 shares during the last quarter. Institutional investors own 86.01% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 1.28% during midday trading on Friday, hitting $107.45. 1,524,274 shares of the company were exchanged. Intuit Inc. has a one year low of $88.17 and a one year high of $116.97. The stock has a market cap of $27.72 billion, a PE ratio of 29.10 and a beta of 1.10. The stock’s 50-day moving average is $110.15 and its 200-day moving average is $107.94.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The company earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) earnings per share. Equities research analysts anticipate that Intuit Inc. will post $4.35 EPS 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 given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.27%. This is an increase from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, October 5th. Intuit’s payout ratio is currently 36.17%.
Several research firms recently weighed in on INTU. Brean Capital restated a “buy” rating on shares of Intuit in a report on Sunday, June 26th. Vetr lowered shares of Intuit from a “buy” rating to a “hold” rating and set a $108.50 target price on the stock. in a report on Wednesday, June 15th. 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 report on Friday, July 15th. Canaccord Genuity restated a “buy” rating and set a $750.00 target price on shares of Intuit in a report on Friday, July 22nd. Finally, Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. One investment 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. Intuit presently has an average rating of “Buy” and an average target price of $194.34.
In related news, EVP Sasan K. Goodarzi sold 18,567 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $109.78, for a total transaction of $2,038,285.26. Following the completion of the sale, the executive vice president now directly owns 1,492 shares of the company’s stock, valued at approximately $163,791.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $109.19, for a total transaction of $204,294.49. Following the sale, the executive vice president now directly owns 2,541 shares of the company’s stock, valued at $277,451.79. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.
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.
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