Bp Plc lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 34.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,000 shares of the software maker’s stock after selling 16,000 shares during the quarter. Bp Plc’s holdings in Intuit were worth $6,821,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Wealth Inc. lifted its stake in shares of Intuit by 65.0% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock worth $122,000 after purchasing an additional 240 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Intuit by 3.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,055 shares of the software maker’s stock worth $1,422,000 after purchasing an additional 252 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Intuit by 4.2% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,480 shares of the software maker’s stock worth $1,325,000 after purchasing an additional 262 shares during the last quarter. Zacks Investment Management lifted its stake in shares of Intuit by 0.4% during the 2nd quarter. Zacks Investment Management now owns 60,914 shares of the software maker’s stock worth $12,445,000 after purchasing an additional 264 shares during the last quarter. Finally, Global Financial Private Capital LLC lifted its stake in shares of Intuit by 7.8% during the 2nd quarter. Global Financial Private Capital LLC now owns 3,725 shares of the software maker’s stock worth $761,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 87.18% of the company’s stock.
Shares of INTU stock opened at $214.44 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $55.09 billion, a PE ratio of 47.34, a PEG ratio of 2.44 and a beta of 1.19. Intuit Inc. has a fifty-two week low of $150.43 and a fifty-two week high of $231.84.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 67.39% and a net margin of 20.31%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share. Research analysts anticipate that Intuit Inc. will post 5.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Wednesday, October 10th were issued a $0.47 dividend. The ex-dividend date was Tuesday, October 9th. This is a positive change from Intuit’s previous quarterly dividend of $0.39. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.88%. Intuit’s dividend payout ratio is currently 41.50%.
A number of brokerages recently weighed in on INTU. Argus upped their price objective on Intuit from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. Evercore ISI upgraded Intuit from an “in-line” rating to an “outperform” rating in a research note on Wednesday, October 3rd. Credit Suisse Group upped their price objective on Intuit from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Oppenheimer upped their target price on Intuit from $224.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Finally, Barclays upped their target price on Intuit from $204.00 to $219.00 and gave the company an “equal weight” rating in a research report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. Intuit presently has an average rating of “Buy” and an average price target of $224.29.
In other news, CEO Brad D. Smith sold 254,325 shares of the stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $227.66, for a total value of $57,899,629.50. Following the transaction, the chief executive officer now directly owns 415,445 shares of the company’s stock, valued at $94,580,208.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Scott D. Cook sold 100,000 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $211.66, for a total value of $21,166,000.00. The disclosure for this sale can be found here. Insiders sold 622,236 shares of company stock worth $137,883,071 over the last three months. Corporate insiders own 5.59% of the company’s stock.
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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.
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