Intuit Inc. (INTU) Stake Maintained by Fairfield Bush & CO.
Fairfield Bush & CO. held its position in Intuit Inc. (NASDAQ:INTU) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,620 shares of the software maker’s stock at the end of the first quarter. Fairfield Bush & CO.’s holdings in Intuit were worth $304,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Miller Howard Investments Inc. NY bought a new position in Intuit during the first quarter worth $205,000. Lincoln National Corp acquired a new stake in shares of Intuit during the first quarter valued at approximately $205,000. Pax World Management LLC acquired a new stake in shares of Intuit during the first quarter valued at approximately $205,000. Mycio Wealth Partners LLC acquired a new stake in shares of Intuit during the first quarter valued at approximately $213,000. Finally, Virtu Financial LLC acquired a new stake in shares of Intuit during the first quarter valued at approximately $214,000. 85.27% of the stock is currently owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.36% during mid-day trading on Friday, hitting $139.49. 1,920,789 shares of the company traded hands. The firm’s 50 day moving average price is $133.23 and its 200-day moving average price is $122.45. The stock has a market capitalization of $35.74 billion, a PE ratio of 40.08 and a beta of 1.14. Intuit Inc. has a 1-year low of $103.03 and a 1-year high of $143.81.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $3.43 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Intuit Inc. will post $4.39 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, July 6th. Intuit’s dividend payout ratio is currently 39.19%.
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A number of equities analysts have issued reports on the company. CIBC increased their target price on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Barclays PLC lowered their target price on Intuit from $129.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, April 24th. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. Royal Bank of Canada raised their price objective on Intuit from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, February 24th. Finally, Credit Suisse Group raised their price objective on Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $203.97.
In other news, Director Dennis D. Powell sold 16,686 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $136.82, for a total value of $2,282,978.52. Following the transaction, the director now directly owns 4,554 shares in the company, valued at $623,078.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction dated Tuesday, March 28th. The stock was sold at an average price of $118.75, for a total transaction of $222,181.25. The disclosure for this sale can be found here. In the last three months, insiders sold 135,581 shares of company stock worth $18,850,556. Insiders own 5.70% of the company’s stock.
Intuit Company Profile
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 ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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