IFP Advisors Inc Has $268,000 Position in Intuit Inc. (INTU)
IFP Advisors Inc decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,015 shares of the software maker’s stock after selling 121 shares during the period. IFP Advisors Inc’s holdings in Intuit were worth $268,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of INTU. Guardian Life Insurance Co. of America raised its stake in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the last quarter. Johnson Financial Group Inc. raised its stake in Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in Intuit during the first quarter worth approximately $205,000. Lincoln National Corp bought a new stake in Intuit during the first quarter worth approximately $205,000. Finally, Pax World Management LLC bought a new stake in Intuit during the first quarter worth approximately $205,000. 85.18% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc. (NASDAQ INTU) opened at 134.46 on Friday. The stock has a market capitalization of $34.45 billion, a P/E ratio of 38.64 and a beta of 1.15. The stock has a 50 day moving average price of $135.02 and a 200-day moving average price of $128.27. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $143.81.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm earned $3.43 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post $4.39 EPS for the current year.
A number of research firms recently commented on INTU. CIBC increased their price objective on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, May 26th. Barclays PLC decreased their price objective on Intuit from $129.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, April 24th. Credit Suisse Group increased their price objective on Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Monday, May 29th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $141.00 price target (up from $125.00) on shares of Intuit in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $135.63.
In other Intuit news, EVP Laura A. Fennell sold 74,052 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total value of $10,327,291.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock valued at $21,085,104 in the last ninety days. 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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