Pensionfund Sabic cut its position in Intuit Inc. (NASDAQ:INTU) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,575 shares of the software maker’s stock after selling 525 shares during the quarter. Pensionfund Sabic’s holdings in Intuit were worth $2,241,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Financial Advantage Inc. acquired a new position in Intuit during the 1st quarter valued at about $26,000. CX Institutional boosted its holdings in shares of Intuit by 85.5% during the first quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after purchasing an additional 47 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in shares of Intuit during the first quarter worth approximately $28,000. Private Ocean LLC bought a new position in Intuit during the first quarter valued at approximately $28,000. Finally, Thor Advisors LLC bought a new position in Intuit during the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 88.06% of the company’s stock.
In other news, Chairman Scott D. Cook sold 103,817 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $258.59, for a total transaction of $26,846,038.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the transaction, the chief financial officer now directly owns 10,628 shares in the company, valued at approximately $2,723,637.56. The disclosure for this sale can be found here. In the last three months, insiders sold 277,296 shares of company stock worth $72,342,898. Insiders own 4.60% of the company’s stock.
Shares of NASDAQ:INTU traded up $0.75 during mid-day trading on Tuesday, hitting $281.90. 1,083,716 shares of the company traded hands, compared to its average volume of 1,455,604. The stock has a market cap of $72.41 billion, a PE ratio of 62.23, a P/E/G ratio of 3.16 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.85 and a current ratio of 1.85. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $284.55. The firm’s 50-day moving average price is $265.32.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.12 by $0.43. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the firm earned $4.82 earnings per share. Intuit’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, research analysts forecast that Intuit Inc. will post 5.49 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.88 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio is currently 41.50%.
A number of research firms have weighed in on INTU. BNP Paribas began coverage on shares of Workday in a research note on Friday, March 29th. They set an “underperform” rating and a $125.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and set a C$15.00 price target on shares of Aphria in a research report on Friday, May 24th. KeyCorp boosted their price objective on Intuit from $280.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Credit Suisse Group upped their price target on Intuit from $260.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Finally, Deutsche Bank boosted their price objective on Prudential Financial from $97.00 to $104.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Intuit currently has a consensus rating of “Buy” and an average price target of $254.15.
Intuit Company Profile
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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