Clean Yield Group lowered its position in Intuit Inc. (NASDAQ:INTU) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,770 shares of the company’s stock after selling 725 shares during the period. Intuit accounts for approximately 1.5% of Clean Yield Group’s holdings, making the stock its 23rd largest position. Clean Yield Group’s holdings in Intuit were worth $3,434,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in INTU. First Midwest Bank Trust Division raised its position in Intuit by 6.2% in the second quarter. First Midwest Bank Trust Division now owns 5,273 shares of the company’s stock worth $588,000 after buying an additional 310 shares in the last quarter. Calamos Advisors LLC bought a new position in Intuit during the second quarter worth about $29,077,000. Calamos Wealth Management LLC bought a new position in Intuit during the second quarter worth about $961,000. UMB Bank N A MO raised its position in Intuit by 3.2% in the second quarter. UMB Bank N A MO now owns 113,809 shares of the company’s stock worth $12,703,000 after buying an additional 3,582 shares in the last quarter. Finally, Headinvest LLC raised its position in Intuit by 2.8% in the second quarter. Headinvest LLC now owns 34,439 shares of the company’s stock worth $3,844,000 after buying an additional 932 shares in the last quarter. 86.01% of the stock is currently owned by hedge funds and other institutional investors.
Intuit Inc. (NASDAQ:INTU) traded down 0.79% during mid-day trading on Thursday, reaching $109.31. 892,674 shares of the company’s stock traded hands. The company has a 50-day moving average of $110.90 and a 200-day moving average of $107.58. Intuit Inc. has a 52-week low of $85.61 and a 52-week high of $116.97. The company has a market capitalization of $28.20 billion, a price-to-earnings ratio of 29.60 and a beta of 1.05.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The firm earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. During the same period in the prior year, the firm earned ($0.05) EPS. The business’s revenue was up 8.3% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post $4.35 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, October 5th. This is an increase from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a yield of 1.24%. Intuit’s dividend payout ratio is 31.91%.
A number of research firms recently issued reports on INTU. Morgan Stanley lowered Intuit from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $109.54 to $105.00 in a report on Tuesday, September 13th. Oppenheimer Holdings Inc. raised their price target on Intuit from $113.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, August 25th. Deutsche Bank AG reissued a “buy” rating and set a $125.00 price target (down previously from $130.00) on shares of Intuit in a report on Wednesday, August 24th. Brean Capital raised their price target on Intuit from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. Finally, RBC Capital Markets reissued a “hold” rating and set a $108.00 price target on shares of Intuit in a report on Wednesday, August 24th. One research 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 has an average rating of “Buy” and an average price target of $194.34.
In other news, EVP Henry Tayloe Stansbury sold 11,503 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 670 shares of the company’s stock, valued at approximately $74,684.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sasan K. Goodarzi sold 7,350 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $110.00, for a total transaction of $808,500.00. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.
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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