Intuit Inc. (INTU) Shares Bought by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,780,533 shares of the software maker’s stock after buying an additional 347,159 shares during the period. TIAA CREF Investment Management LLC owned approximately 1.87% of Intuit worth $634,903,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Teachers Advisors LLC raised its holdings in Intuit by 1.0% in the 2nd quarter. Teachers Advisors LLC now owns 1,473,763 shares of the software maker’s stock valued at $195,730,000 after buying an additional 15,231 shares during the period. Summit Global Investments purchased a new stake in Intuit in the 2nd quarter valued at about $1,987,000. Riverhead Capital Management LLC raised its holdings in Intuit by 2.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,537 shares of the software maker’s stock valued at $868,000 after buying an additional 151 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Intuit by 24.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,403 shares of the software maker’s stock valued at $319,000 after buying an additional 478 shares during the period. Finally, Account Management LLC raised its holdings in Intuit by 1.0% in the 2nd quarter. Account Management LLC now owns 26,449 shares of the software maker’s stock valued at $3,513,000 after buying an additional 266 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.
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In related news, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 685,925 shares of company stock worth $94,039,250. Company insiders own 5.70% of the company’s stock.
Several analysts recently issued reports on the stock. Citigroup Inc. lowered shares of Intuit from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $148.00 to $141.00 in a report on Monday, June 26th. Credit Suisse Group boosted their price objective on shares of Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Stifel Nicolaus boosted their price objective on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. Royal Bank Of Canada boosted their price objective on shares of Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. Finally, CIBC boosted their price objective on shares of Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, May 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $138.28.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 1.22% during trading on Tuesday, hitting $140.90. The stock had a trading volume of 717,369 shares. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The company has a market cap of $36.21 billion, a P/E ratio of 37.88 and a beta of 1.15. The stock’s 50-day moving average price is $137.62 and its 200-day moving average price is $130.71.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $842.00 million for the quarter, compared to the consensus estimate of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. On average, equities research analysts forecast that Intuit Inc. will post $4.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.39 per share. This is an increase from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio (DPR) is presently 36.56%.
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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