Intuit Inc. (INTU) Shares Sold by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,452 shares of the company’s stock after selling 1,010 shares during the period. Tocqueville Asset Management L.P.’s holdings in Intuit were worth $10,988,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Alpha Windward LLC increased its stake in Intuit by 2,340.6% in the second quarter. Alpha Windward LLC now owns 1,562 shares of the company’s stock worth $174,000 after buying an additional 1,498 shares during the last quarter. Telemus Capital LLC bought a new stake in Intuit during the second quarter worth about $201,000. Cape Cod Five Cents Savings Bank bought a new stake in Intuit during the second quarter worth about $212,000. Emerald Mutual Fund Advisers Trust increased its stake in Intuit by 2.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,093 shares of the company’s stock worth $234,000 after buying an additional 51 shares during the last quarter. Finally, Concert Wealth Management Inc. increased its stake in Intuit by 7.5% in the second quarter. Concert Wealth Management Inc. now owns 2,114 shares of the company’s stock worth $238,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 86.01% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.18% during mid-day trading on Friday, hitting $106.99. 1,100,242 shares of the stock traded hands. The company’s 50 day moving average is $109.50 and its 200 day moving average is $108.09. Intuit Inc. has a one year low of $88.17 and a one year high of $116.97. The firm has a market capitalization of $27.60 billion, a P/E ratio of 28.97 and a beta of 1.10.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 23rd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. Intuit had a net margin of 20.86% and a return on equity of 80.75%. The firm had revenue of $754 million for the quarter, compared to analyst estimates of $735.35 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post $4.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be given a dividend of $0.34 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, October 5th. Intuit’s dividend payout ratio is 36.17%.
A number of equities research analysts have issued reports on INTU shares. Citigroup Inc. reiterated a “buy” rating and issued a $128.00 target price on shares of Intuit in a research report on Wednesday, August 24th. Morgan Stanley downgraded shares of Intuit from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $109.54 to $105.00 in a research report on Tuesday, September 13th. Oppenheimer Holdings Inc. increased their target price on shares of Intuit from $113.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, August 25th. Goldman Sachs Group Inc. increased their target price on shares of Intuit from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, August 24th. Finally, Credit Suisse Group AG reiterated a “neutral” rating and issued a $100.00 target price on shares of Intuit in a research report on Wednesday, August 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $194.34.
In other Intuit news, EVP Sasan K. Goodarzi sold 7,350 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $110.00, for a total transaction of $808,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO R Neil Williams sold 6,636 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $110.06, for a total transaction of $730,358.16. Following the sale, the chief financial officer now directly owns 4,727 shares in the company, valued at $520,253.62. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.
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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