Nicolet Bankshares Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 1.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,357 shares of the company’s stock after selling 75 shares during the period. Nicolet Bankshares Inc.’s holdings in Intuit were worth $486,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its position in 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 valued at $71,746,000 after buying an additional 430,600 shares in the last quarter. Strs Ohio raised its stake 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 stake in Intuit during the second quarter valued at approximately $29,077,000. First Quadrant L P CA raised its stake 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 stake 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 up 0.18% during mid-day trading on Friday, reaching $106.99. The company had a trading volume of 1,100,242 shares. Intuit Inc. has a 1-year low of $88.17 and a 1-year high of $116.97. The stock’s 50-day moving average price is $109.59 and its 200 day moving average price is $108.06. The company has a market capitalization of $27.60 billion, a PE ratio of 28.97 and a beta of 1.10.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ 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 earned $754 million during the quarter, compared to the consensus estimate of $735.35 million. During the same period in the previous year, the company posted ($0.05) earnings per share. Intuit’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post $4.35 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This is a boost from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.27%. Intuit’s payout ratio is 36.17%.
Several research firms have recently commented on INTU. Barclays PLC lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $110.00 to $116.00 in a research report on Friday, July 15th. Vetr raised shares of Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 price target for the company in a research report on Monday, July 18th. Wedbush reaffirmed an “outperform” rating and set a $755.00 price target (up previously from $715.00) on shares of Intuit in a research report on Sunday, July 24th. Citigroup Inc. reaffirmed a “buy” rating and set a $128.00 price target on shares of Intuit in a research report on Wednesday, August 24th. Finally, Goldman Sachs Group Inc. upped their price target on shares of Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $194.34.
In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the business’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 value of $204,294.49. Following the completion of the sale, the executive vice president now directly owns 2,541 shares in the company, valued at $277,451.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO R Neil Williams sold 18,567 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $111.47, for a total value of $2,069,663.49. Following the completion of the sale, the chief financial officer now owns 4,727 shares of the company’s stock, valued at $526,918.69. The disclosure for this sale can be found here. 5.50% of the stock is owned by 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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