Eads & Heald Investment Counsel decreased its position in Intuit Inc. (NASDAQ:INTU) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,441 shares of the company’s stock after selling 321 shares during the period. Eads & Heald Investment Counsel’s holdings in Intuit were worth $830,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of INTU. Alpha Windward LLC raised its position in Intuit by 2,340.6% in the second quarter. Alpha Windward LLC now owns 1,562 shares of the company’s stock worth $174,000 after buying an additional 1,498 shares during the period. Telemus Capital LLC acquired a new position in shares of Intuit during the second quarter valued at about $201,000. Cape Cod Five Cents Savings Bank acquired a new position in shares of Intuit during the second quarter valued at about $212,000. Emerald Mutual Fund Advisers Trust raised its position 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 valued at $234,000 after buying an additional 51 shares during the last quarter. Finally, Concert Wealth Management Inc. raised its position in shares of Intuit by 7.5% in the second quarter. Concert Wealth Management Inc. now owns 2,114 shares of the company’s stock valued at $238,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.01% during mid-day trading on Monday, reaching $106.98. The company had a trading volume of 227,249 shares. The firm has a 50-day moving average of $109.50 and a 200-day moving average of $108.09. Intuit Inc. has a 12-month low of $88.17 and a 12-month high of $116.97. The company has a market capitalization of $27.59 billion, a P/E ratio of 28.97 and a beta of 1.10.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 23rd. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.10. The business had revenue of $754 million for the quarter, compared to analysts’ expectations of $735.35 million. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. On average, equities analysts anticipate that Intuit Inc. will post $4.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, October 5th. This is a boost from Intuit’s previous quarterly dividend of $0.30. Intuit’s dividend payout ratio is currently 36.17%.
Several equities analysts have recently issued reports on the company. Barclays PLC lowered Intuit from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $110.00 to $116.00 in a research note on Friday, July 15th. Vetr upgraded Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 price target on the stock in a research note on Monday, July 18th. Wedbush reiterated an “outperform” rating and issued a $755.00 price target (up previously from $715.00) on shares of Intuit in a research note on Sunday, July 24th. Citigroup Inc. reiterated a “buy” rating and issued a $128.00 price target on shares of Intuit in a research note on Wednesday, August 24th. Finally, Goldman Sachs Group Inc. lifted their price target on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $194.34.
In other Intuit news, CFO R Neil Williams sold 18,567 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $111.47, for a total transaction of $2,069,663.49. Following the completion of the sale, the chief financial officer now directly owns 4,727 shares in the company, valued at $526,918.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 11,503 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $111.47, for a total transaction of $1,282,239.41. Following the sale, the executive vice president now owns 670 shares of the company’s stock, valued at $74,684.90. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate 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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