Intuit Inc. (INTU) Position Cut by TD Asset Management Inc.
TD Asset Management Inc. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 13.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 349,796 shares of the company’s stock after selling 56,056 shares during the period. TD Asset Management Inc. owned about 0.14% of Intuit worth $38,481,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Bank of Hawaii raised its position in Intuit by 0.7% in the third quarter. Bank of Hawaii now owns 2,764 shares of the company’s stock worth $304,000 after buying an additional 20 shares in the last quarter. Carderock Capital Management Inc. raised its position in Intuit by 1.3% in the third quarter. Carderock Capital Management Inc. now owns 47,070 shares of the company’s stock worth $5,178,000 after buying an additional 584 shares in the last quarter. Copeland Capital Management LLC raised its position in Intuit by 116.2% in the third quarter. Copeland Capital Management LLC now owns 157,665 shares of the company’s stock worth $17,345,000 after buying an additional 84,751 shares in the last quarter. Mar Vista Investment Partners LLC raised its position in Intuit by 33.7% in the third quarter. Mar Vista Investment Partners LLC now owns 772,464 shares of the company’s stock worth $84,979,000 after buying an additional 194,642 shares in the last quarter. Finally, Aperio Group LLC raised its position in Intuit by 4.0% in the third quarter. Aperio Group LLC now owns 147,894 shares of the company’s stock worth $16,270,000 after buying an additional 5,712 shares in the last quarter. 84.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.01% during midday trading on Monday, hitting $116.08. The company’s stock had a trading volume of 653,560 shares. Intuit Inc. has a 1-year low of $88.17 and a 1-year high of $116.97. The company has a 50-day moving average price of $109.39 and a 200 day moving average price of $109.58. The company has a market cap of $29.79 billion, a P/E ratio of 31.05 and a beta of 1.08.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 17th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Intuit had a return on equity of 82.77% and a net margin of 20.59%. The firm had revenue of $778 million for the quarter, compared to the consensus estimate of $754.36 million. During the same period in the previous year, the business earned $0.09 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that Intuit Inc. will post $4.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 18th. Investors of record on Tuesday, January 10th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, January 6th. Intuit’s payout ratio is 36.27%.
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INTU has been the topic of a number of recent analyst reports. Royal Bank Of Canada reduced their price objective on Intuit from $113.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Monday, August 15th. RBC Capital Markets reissued a “sector perform” rating and issued a $113.00 price objective (up previously from $93.00) on shares of Intuit in a research note on Monday, August 15th. Citigroup Inc. reissued a “buy” rating and issued a $128.00 price objective on shares of Intuit in a research note on Wednesday, August 24th. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $100.00 price target on shares of Intuit in a research note on Wednesday, August 24th. Finally, Goldman Sachs Group Inc. upped their price target on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $200.83.
In related news, EVP Henry Tayloe Stansbury sold 11,503 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $111.47, for a total value of $1,282,239.41. Following the completion of the sale, the executive vice president now directly owns 670 shares of the company’s stock, valued at approximately $74,684.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark J. Flournoy sold 1,892 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $115.47, for a total value of $218,469.24. The disclosure for this sale can be found here. 5.70% of the stock is 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.
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