HighTower Trust Services LTA cut its holdings in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,415 shares of the software maker’s stock after selling 471 shares during the quarter. HighTower Trust Services LTA’s holdings in Intuit were worth $6,451,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. boosted its stake in Intuit by 7.1% in the 4th quarter. BlackRock Inc. now owns 25,129,120 shares of the software maker’s stock valued at $16,163,554,000 after purchasing an additional 1,664,393 shares during the period. State Street Corp lifted its position in shares of Intuit by 6.0% during the 4th quarter. State Street Corp now owns 11,529,236 shares of the software maker’s stock valued at $7,415,835,000 after acquiring an additional 652,399 shares during the period. Geode Capital Management LLC lifted its position in shares of Intuit by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 4,922,658 shares of the software maker’s stock valued at $3,158,032,000 after acquiring an additional 336,690 shares during the period. Nicholas Hoffman & Company LLC. lifted its position in shares of Intuit by 933,957.5% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 3,801,614 shares of the software maker’s stock valued at $2,445,274,000 after acquiring an additional 3,801,207 shares during the period. Finally, Brown Advisory Inc. lifted its position in shares of Intuit by 8.6% during the 4th quarter. Brown Advisory Inc. now owns 3,720,073 shares of the software maker’s stock worth $2,392,825,000 after buying an additional 295,602 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intuit stock opened at $388.31 on Friday. The stock has a fifty day simple moving average of $393.68 and a 200 day simple moving average of $476.91. Intuit Inc. has a 12-month low of $339.36 and a 12-month high of $716.86. The company has a market capitalization of $109.53 billion, a P/E ratio of 44.03, a price-to-earnings-growth ratio of 3.01 and a beta of 1.14. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.40.
Intuit (NASDAQ:INTU – Get Rating) last announced its quarterly earnings data on Tuesday, May 24th. The software maker reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.58 by $0.07. Intuit had a return on equity of 20.77% and a net margin of 19.44%. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company earned $5.45 EPS. The business’s revenue for the quarter was up 35.0% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post 8.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 18th. Investors of record on Monday, July 11th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, July 8th. This represents a $2.72 annualized dividend and a yield of 0.70%. Intuit’s payout ratio is 30.84%.
In other news, EVP Laura A. Fennell sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $392.39, for a total value of $3,923,900.00. Following the completion of the transaction, the executive vice president now owns 28,717 shares in the company, valued at approximately $11,268,263.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Raul Vazquez sold 1,790 shares of Intuit stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $390.37, for a total value of $698,762.30. Following the transaction, the director now owns 2,019 shares of the company’s stock, valued at approximately $788,157.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,774 shares of company stock valued at $5,002,772. Company insiders own 3.27% of the company’s stock.
Several analysts recently weighed in on the company. Barclays dropped their price objective on Intuit from $585.00 to $480.00 and set an “overweight” rating for the company in a research report on Friday, May 20th. KeyCorp lowered their target price on Intuit from $600.00 to $500.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. StockNews.com assumed coverage on Intuit in a report on Thursday, March 31st. They issued a “hold” rating for the company. William Blair reissued an “outperform” rating on shares of Intuit in a research note on Wednesday, May 25th. Finally, Edward Jones raised Intuit from a “hold” rating to a “buy” rating in a research note on Friday, March 11th. One research analyst has rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $562.56.
Intuit Profile: (Get Rating)
Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments. Small Business & Self-Employed, Consumer, Credit Karma, and ProConnect.
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