North Star Asset Management Inc. Cuts Stake in Intuit Inc. (NASDAQ:INTU)
North Star Asset Management Inc. decreased its stake in Intuit Inc. (NASDAQ:INTU) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,762 shares of the software maker’s stock after selling 908 shares during the period. North Star Asset Management Inc.’s holdings in Intuit were worth $6,816,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. BlackRock Inc. boosted its stake in shares of Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after buying an additional 16,306,976 shares during the period. Morgan Stanley boosted its stake in Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock valued at $403,505,000 after buying an additional 966,936 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Intuit by 249.1% in the first quarter. Renaissance Technologies LLC now owns 1,296,148 shares of the software maker’s stock valued at $150,340,000 after buying an additional 924,900 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Intuit during the first quarter valued at approximately $99,589,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Intuit during the first quarter valued at approximately $99,589,000. Institutional investors own 85.39% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded up 0.45% during mid-day trading on Thursday, hitting $137.14. 879,567 shares of the stock traded hands. The stock’s 50 day moving average is $135.86 and its 200-day moving average is $126.82. The company has a market cap of $35.14 billion, a price-to-earnings ratio of 39.18 and a beta of 1.15. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $143.81.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the company earned $3.43 earnings per share. Intuit’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post $4.39 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, July 6th. Intuit’s payout ratio is currently 39.19%.
Several equities analysts have recently commented on INTU shares. Benchmark Co. initiated coverage on Intuit in a research report on Thursday, April 27th. They set a “buy” rating and a $140.00 price objective on the stock. Citigroup Inc. lifted their price objective on Intuit from $128.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Bank of America Corporation lifted their price objective on Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Deutsche Bank AG boosted their price target on Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Finally, Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target for the company in a report on Monday, May 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $135.63.
In other news, EVP Daniel A. Wernikoff sold 15,684 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total value of $2,203,602.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,265 shares of company stock valued at $21,085,104. Corporate 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.
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.