Intuit Inc. (INTU) Shares Sold by Davidson Investment Advisors
Davidson Investment Advisors trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,754 shares of the software maker’s stock after selling 4,057 shares during the quarter. Davidson Investment Advisors’ holdings in Intuit were worth $7,668,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of INTU. Captrust Financial Advisors purchased a new stake in shares of Intuit during the second quarter valued at approximately $108,000. Guardian Life Insurance Co. of America increased its position in shares of Intuit by 0.5% during the first 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 during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Intuit during the second quarter valued at approximately $123,000. Johnson Financial Group Inc. increased its position in shares of Intuit by 5.8% during the first 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 during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Intuit during the second quarter valued at approximately $140,000. 85.96% of the stock is owned by institutional investors.
A number of analysts have issued reports on the company. First Analysis raised Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 target price for the company in a research report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. raised their target price on Intuit from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. CIBC raised their target price on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th. BidaskClub downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $145.00 target price on shares of Intuit in a research report on Wednesday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $140.24.
In other Intuit news, EVP Daniel A. Wernikoff sold 15,684 shares of the stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total value of $2,203,602.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO R Neil Williams sold 184,585 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total value of $26,046,789.35. Following the completion of the sale, the chief financial officer now owns 64,620 shares of the company’s stock, valued at approximately $9,118,528.20. The disclosure for this sale can be found here. Insiders sold a total of 888,585 shares of company stock valued at $122,643,706 over the last 90 days. 5.70% of the stock is currently owned by company insiders.
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Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.49% during trading on Monday, hitting $142.82. The stock had a trading volume of 224,933 shares. The stock’s 50-day moving average price is $138.38 and its 200 day moving average price is $131.17. The firm has a market capitalization of $36.42 billion, a P/E ratio of 38.39 and a beta of 1.15. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $842.00 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 was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. On average, analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid a $0.39 dividend. 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. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio is 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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