Sequoia Financial Advisors LLC held its stake in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,352 shares of the company’s stock at the end of the second quarter. Intuit makes up approximately 2.4% of Sequoia Financial Advisors LLC’s investment portfolio, making the stock its 9th largest position. Sequoia Financial Advisors LLC’s holdings in Intuit were worth $8,633,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI raised its stake in Intuit by 62.5% in the first quarter. Citizens Financial Group Inc RI now owns 3,900 shares of the company’s stock valued at $406,000 after buying an additional 1,500 shares in the last quarter. Hancock Holding Co. purchased a new stake in Intuit during the first quarter valued at $2,773,000. Mariner Wealth Advisors LLC raised its stake in Intuit by 136.5% in the first quarter. Mariner Wealth Advisors LLC now owns 5,298 shares of the company’s stock valued at $551,000 after buying an additional 3,058 shares in the last quarter. 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 in the last quarter. Finally, Geode Capital Management LLC raised its stake in Intuit by 3.9% in the first quarter. Geode Capital Management LLC now owns 2,297,466 shares of the company’s stock valued at $238,523,000 after buying an additional 85,541 shares in the last quarter. Institutional investors own 86.04% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded down 0.10% during mid-day trading on Monday, reaching $106.88. The company had a trading volume of 740,864 shares. The firm has a market capitalization of $27.57 billion, a PE ratio of 28.94 and a beta of 1.10. Intuit Inc. has a 52 week low of $88.17 and a 52 week high of $116.97. The stock’s 50-day moving average price is $109.50 and its 200 day moving average price is $108.09.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the 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 business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. On average, equities research analysts predict 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. This is a boost from Intuit’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, October 5th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.27%. Intuit’s dividend payout ratio (DPR) is presently 36.17%.
Several research firms recently weighed in on INTU. 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 report 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 report on Monday, July 18th. Wedbush restated an “outperform” rating and set a $755.00 price target (up from $715.00) on shares of Intuit in a research report on Sunday, July 24th. Citigroup Inc. restated 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. boosted their target price on Intuit from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Intuit presently has a consensus rating of “Buy” and an average target price of $194.34.
In other news, CFO R Neil Williams sold 18,567 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was 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 approximately $526,918.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henry Tayloe Stansbury sold 11,503 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $111.47, for a total value of $1,282,239.41. Following the completion of the sale, the executive vice president now directly owns 670 shares of the company’s stock, valued at approximately $74,684.90. The disclosure for this sale can be found here. 5.50% of the stock is owned by 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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