Intuit Inc. (INTU) Stake Maintained by Formidable Asset Management LLC
Formidable Asset Management LLC continued to hold its stake in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,650 shares of the software maker’s stock at the end of the 2nd quarter. Formidable Asset Management LLC’s holdings in Intuit were worth $219,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Captrust Financial Advisors bought a new stake in shares of Intuit in the second quarter valued at about $108,000. Guardian Life Insurance Co. of America lifted its holdings in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after purchasing an additional 5 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Intuit in the second quarter valued at about $123,000. Johnson Financial Group Inc. lifted its holdings in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after purchasing an additional 59 shares in the last quarter. Finally, Pax World Management LLC bought a new stake in shares of Intuit in the first quarter valued at about $205,000. Institutional investors own 86.05% of the company’s stock.
A number of brokerages have recently commented on INTU. Moffett Nathanson began coverage on Intuit in a report on Thursday, September 7th. They issued a “buy” rating and a $150.00 price target on the stock. Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and lowered their target price for the company from $148.00 to $141.00 in a research report on Monday, June 26th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Monday, May 29th. Barclays PLC reaffirmed an “equal weight” rating on shares of Intuit in a research report on Sunday, May 28th. Finally, CIBC lifted their target price on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a research report on Friday, May 26th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $140.24.
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In related news, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total transaction of $2,203,602.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,585 shares of company stock valued at $122,643,706. 5.70% of the stock is currently owned by company insiders.
Shares of Intuit Inc. (INTU) traded up 0.04% during midday trading on Friday, hitting $142.13. The stock had a trading volume of 1,423,535 shares. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81. The company has a market cap of $36.24 billion, a price-to-earnings ratio of 38.21 and a beta of 1.15. The stock’s 50-day moving average price is $138.38 and its 200 day moving average price is $131.17.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The company had revenue of $842.00 million during the quarter, compared to analyst estimates of $808.82 million. During the same quarter last year, the business posted $0.08 EPS. Intuit’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post $4.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.10%. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is presently 36.56%.
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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