Huntington National Bank boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,987 shares of the software maker’s stock after purchasing an additional 428 shares during the quarter. Huntington National Bank’s holdings in Intuit were worth $4,773,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Fort L.P. acquired a new position in Intuit during the second quarter valued at approximately $120,000. Qube Research & Technologies Ltd grew its holdings in Intuit by 160.1% during the second quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock valued at $124,000 after purchasing an additional 373 shares during the period. Sun Life Financial INC grew its holdings in Intuit by 243.8% during the second quarter. Sun Life Financial INC now owns 660 shares of the software maker’s stock valued at $135,000 after purchasing an additional 468 shares during the period. Cerebellum GP LLC acquired a new position in Intuit during the second quarter valued at approximately $176,000. Finally, NewSquare Capital LLC acquired a new position in Intuit during the second quarter valued at approximately $185,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.
Shares of INTU stock opened at $211.10 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $54.61 billion, a PE ratio of 46.60, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21. Intuit Inc. has a 12 month low of $145.83 and a 12 month high of $231.84.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.09. The business had revenue of $988.00 million for the quarter, compared to analyst estimates of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Analysts anticipate that Intuit Inc. will post 5.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Wednesday, October 10th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Tuesday, October 9th. This is a positive change from Intuit’s previous quarterly dividend of $0.39. Intuit’s payout ratio is currently 41.50%.
A number of brokerages have weighed in on INTU. Deutsche Bank began coverage on shares of Intuit in a research note on Monday, October 8th. They issued a “buy” rating and a $265.00 price target on the stock. Credit Suisse Group set a $250.00 price target on shares of Intuit and gave the company a “buy” rating in a research note on Monday, October 15th. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $243.00 price target on the stock in a research note on Tuesday, August 28th. Citigroup lifted their price target on shares of Intuit from $221.00 to $224.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Finally, Oppenheimer lifted their price target on shares of Intuit from $206.00 to $224.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $224.29.
In other news, EVP Henry Tayloe Stansbury sold 3,651 shares of the business’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $221.54, for a total value of $808,842.54. Following the sale, the executive vice president now owns 4,048 shares of the company’s stock, valued at $896,793.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 100,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $221.58, for a total transaction of $22,158,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 622,236 shares of company stock worth $137,883,071. 5.59% of the stock is currently owned by insiders.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
Featured Article: Price to Earnings Ratio (PE), For Valuing Stocks
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.