Northwestern Mutual Investment Management Company LLC Has $38,448,000 Stake in Intuit Inc. (INTU)
Northwestern Mutual Investment Management Company LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 24.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,485 shares of the company’s stock after selling 111,732 shares during the period. Intuit comprises about 0.8% of Northwestern Mutual Investment Management Company LLC’s holdings, making the stock its 27th largest position. Northwestern Mutual Investment Management Company LLC owned about 0.13% of Intuit worth $38,448,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. increased its position in Intuit by 563.9% in the second quarter. Johnson Financial Group Inc. now owns 1,029 shares of the company’s stock worth $115,000 after buying an additional 874 shares during the period. Point72 Asia Hong Kong Ltd increased its position in Intuit by 450.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,100 shares of the company’s stock worth $123,000 after buying an additional 900 shares during the period. Global X Management Co. LLC increased its position in Intuit by 326.8% in the second quarter. Global X Management Co. LLC now owns 1,276 shares of the company’s stock worth $142,000 after buying an additional 977 shares during the period. Alpha Windward LLC increased its position 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 period. Finally, Telemus Capital LLC purchased a new position in Intuit during the second quarter worth approximately $201,000. 84.72% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc. (NASDAQ:INTU) opened at 111.38 on Monday. The firm has a 50 day moving average price of $108.27 and a 200 day moving average price of $108.74. The company has a market cap of $28.73 billion, a PE ratio of 30.16 and a beta of 1.08. Intuit Inc. has a 12-month low of $88.17 and a 12-month high of $116.97.
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 earned $754 million during the quarter, compared to analyst estimates of $735.35 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Intuit Inc. will post $4.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 18th. Investors of record on Monday, October 10th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Wednesday, October 5th. This is a positive change from Intuit’s previous quarterly dividend of $0.30. Intuit’s dividend payout ratio is 36.17%.
INTU has been the subject of a number of research reports. Citigroup Inc. reiterated a “buy” rating and issued a $128.00 price target on shares of Intuit in a research note on Wednesday, August 24th. RBC Capital Markets reiterated a “sector perform” rating and issued a $113.00 price target (up from $93.00) on shares of Intuit in a research note on Monday, August 15th. Royal Bank Of Canada decreased their target price on Intuit from $113.00 to $93.00 and set a “sector perform” rating for the company in a research note on Monday, August 15th. Vetr upgraded Intuit from a “strong sell” rating to a “hold” rating and set a $116.50 target price for the company in a research note on Monday, July 18th. Finally, Wedbush restated an “outperform” rating and issued a $755.00 target price (up from $715.00) on shares of Intuit in a research note on Sunday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $194.34.
In other Intuit news, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $109.19, for a total transaction of $204,294.49. Following the sale, the executive vice president now directly owns 2,541 shares of the company’s stock, valued at $277,451.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO R Neil Williams sold 6,636 shares of the company’s stock in a transaction dated 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. 5.50% of the stock is currently owned by corporate insiders.
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.
Receive News & Stock Ratings for Intuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit Inc. and related stocks with our FREE daily email newsletter.