Dimensional Fund Advisors LP increased its position in Intuit Inc. (NASDAQ:INTU) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 516,354 shares of the company’s stock after buying an additional 15,957 shares during the period. Dimensional Fund Advisors LP owned about 0.20% of Intuit worth $57,623,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Global X Management Co. LLC raised its stake in shares of Intuit by 326.8% in the second quarter. Global X Management Co. LLC now owns 1,276 shares of the company’s stock worth $142,000 after buying an additional 977 shares during the period. Alpha Windward LLC raised its stake 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 during the period. Telemus Capital LLC bought a new stake in shares of Intuit during the second quarter worth about $201,000. Cape Cod Five Cents Savings Bank bought a new stake in shares of Intuit during the second quarter worth about $212,000. Finally, First Personal Financial Services raised its stake in shares of Intuit by 19.4% in the second quarter. First Personal Financial Services now owns 1,948 shares of the company’s stock worth $217,000 after buying an additional 317 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.334% during midday trading on Wednesday, reaching $109.005. 186,192 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $110.52 and a 200-day moving average of $107.89. The company has a market capitalization of $28.12 billion, a PE ratio of 29.517 and a beta of 1.10. Intuit Inc. has a 1-year low of $88.17 and a 1-year high of $116.97.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the 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 firm earned $754 million during the quarter, compared to analyst estimates of $735.35 million. During the same period in the prior year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post $4.35 earnings per share 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 positive change from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, October 5th. Intuit’s dividend payout ratio is currently 31.91%.
INTU has been the subject of several recent research reports. Citigroup Inc. reiterated a “buy” rating and set a $128.00 target price on shares of Intuit in a research note on Wednesday, August 24th. Morgan Stanley lowered shares of Intuit from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $109.54 to $105.00 in a research note on Tuesday, September 13th. Oppenheimer Holdings Inc. boosted their target price on shares of Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, August 25th. Goldman Sachs Group Inc. boosted 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. Finally, Credit Suisse Group AG reiterated a “neutral” rating and set a $100.00 target price on shares of Intuit in a research note on Wednesday, August 24th. One research 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 presently has an average rating of “Buy” and a consensus price target of $194.34.
In other Intuit news, CFO R Neil Williams sold 6,636 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $110.06, for a total transaction of $730,358.16. Following the completion of the transaction, the chief financial officer now directly owns 4,727 shares in the company, valued at $520,253.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $110.00, for a total value of $808,500.00. 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.
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