Jacobson & Schmitt Advisors LLC Cuts Holdings in Intuit Inc. (INTU)
Jacobson & Schmitt Advisors LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 0.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 30,543 shares of the software maker’s stock after selling 204 shares during the period. Intuit comprises 2.7% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 21st biggest position. Jacobson & Schmitt Advisors LLC’s holdings in Intuit were worth $4,056,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. Guardian Life Insurance Co. of America lifted its stake in Intuit by 0.5% in the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after acquiring an additional 5 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Intuit in the 2nd quarter valued at approximately $123,000. Johnson Financial Group Inc. lifted its stake in Intuit by 5.8% in the 1st quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after acquiring an additional 59 shares in the last quarter. Lincoln National Corp bought a new stake in Intuit in the 1st quarter valued at approximately $205,000. Finally, Pax World Management LLC bought a new stake in Intuit in the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.
INTU has been the topic of several research reports. Royal Bank Of Canada boosted their target price on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 24th. Stifel Nicolaus upped their price objective on Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Deutsche Bank AG upped their price objective on Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Bank of America Corporation upped their price objective on Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Finally, Citigroup Inc. upped their price objective on Intuit from $128.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $138.28.
Shares of Intuit Inc. (NASDAQ INTU) traded up 0.50% during midday trading on Monday, hitting $142.27. The stock had a trading volume of 288,845 shares. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81. The stock has a market cap of $36.56 billion, a price-to-earnings ratio of 38.24 and a beta of 1.15. The firm’s 50-day moving average price is $137.62 and its 200-day moving average price is $130.63.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $842 million during the quarter, compared to analyst estimates of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. Intuit’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 EPS. Analysts forecast that Intuit Inc. will post $4.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.39 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. Intuit’s dividend payout ratio is presently 36.56%.
In other Intuit news, insider Scott D. Cook sold 183,333 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $141.16, for a total transaction of $25,879,286.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 15,415 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $141.27, for a total value of $2,177,677.05. Following the transaction, the executive vice president now owns 892 shares in the company, valued at approximately $126,012.84. The disclosure for this sale can be found here. Insiders have sold a total of 685,925 shares of company stock valued at $94,039,250 in the last ninety days. 5.70% of the stock is currently owned by corporate insiders.
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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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