Emerald Mutual Fund Advisers Trust raised its position in Intuit Inc. (NASDAQ:INTU) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,093 shares of the company’s stock after buying an additional 51 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Intuit were worth $234,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Alpha Windward LLC raised its position in shares of 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 in the last quarter. Telemus Capital LLC purchased a new position in shares of Intuit during the second quarter valued at approximately $201,000. Cape Cod Five Cents Savings Bank purchased a new position in shares of Intuit during the second quarter valued at approximately $212,000. Independent Portfolio Consultants Inc. raised its position in shares of Intuit by 18.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,885 shares of the company’s stock valued at $322,000 after buying an additional 440 shares during the period. Finally, Checchi Capital Advisers LLC raised its position in shares of Intuit by 17.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,287 shares of the company’s stock valued at $367,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded down 1.04% on Tuesday, reaching $107.02. The company had a trading volume of 1,596,041 shares. The stock’s 50-day moving average is $110.01 and its 200-day moving average is $108.08. Intuit Inc. has a 52 week low of $88.17 and a 52 week high of $116.97. The company has a market capitalization of $27.60 billion, a P/E ratio of 28.98 and a beta of 1.10.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 23rd. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. Intuit had a return on equity of 80.75% and a net margin of 20.86%. The company had revenue of $754 million for the quarter, compared to analysts’ expectations of $735.35 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be paid a dividend of $0.34 per share. This is a boost from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a yield of 1.26%. The ex-dividend date is Wednesday, October 5th. Intuit’s payout ratio is presently 36.17%.
Several brokerages have recently commented on INTU. Morgan Stanley lowered Intuit from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $109.54 to $105.00 in a research report on Tuesday, September 13th. Oppenheimer Holdings Inc. increased their price objective on Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, August 25th. Deutsche Bank AG reiterated a “buy” rating and set a $125.00 price objective (down from $130.00) on shares of Intuit in a research report on Wednesday, August 24th. Brean Capital increased their price objective on Intuit from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. Finally, RBC Capital Markets reiterated a “hold” rating and set a $108.00 price objective on shares of Intuit in a research report on Wednesday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $194.34.
In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction that occurred 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 transaction, 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 SEC, which is available at this link. Also, CFO R Neil Williams sold 6,636 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.06, for a total value of $730,358.16. Following the transaction, the chief financial officer now directly owns 4,727 shares in the company, valued at approximately $520,253.62. The disclosure for this sale can be found here. Company insiders own 5.50% 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.
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