Roberts Glore & Co. Inc. IL Sells 165 Shares of Intuit Inc. (INTU)
Roberts Glore & Co. Inc. IL reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,565 shares of the software maker’s stock after selling 165 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Intuit were worth $606,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Comgest Global Investors S.A.S. increased its holdings in Intuit by 2.4% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock worth $58,433,000 after purchasing an additional 10,400 shares in the last quarter. Schroder Investment Management Group increased its holdings in Intuit by 218.4% during the 2nd quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock worth $30,483,000 after purchasing an additional 157,101 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd increased its holdings in Intuit by 2,125.0% during the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock worth $5,162,000 after purchasing an additional 42,500 shares in the last quarter. Guardian Life Insurance Co. of America increased its holdings in Intuit by 0.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after purchasing an additional 5 shares in the last quarter. Finally, State Treasurer State of Michigan increased its holdings in Intuit by 0.3% during the 2nd quarter. State Treasurer State of Michigan now owns 79,984 shares of the software maker’s stock worth $10,623,000 after purchasing an additional 200 shares in the last quarter. 85.96% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction on Friday, August 25th. The shares were sold at an average price of $135.22, for a total transaction of $24,790,423.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of Intuit stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total transaction of $257,108.60. Following the transaction, the executive vice president now owns 2,675 shares in the company, valued at approximately $385,735. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,084,194 shares of company stock valued at $151,162,540. Insiders own 5.70% of the company’s stock.
A number of analysts have commented on INTU shares. Citigroup Inc. lowered Intuit from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $148.00 to $141.00 in a report on Monday, June 26th. BidaskClub lowered Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. 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 report on Wednesday, August 23rd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $155.00 target price (up from $150.00) on shares of Intuit in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $150.00 target price on shares of Intuit in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $142.74.
Shares of Intuit Inc. (INTU) traded down 0.06% during trading on Monday, reaching $144.09. The company’s stock had a trading volume of 222,379 shares. The firm’s 50-day moving average price is $141.39 and its 200-day moving average price is $133.19. Intuit Inc. has a one year low of $103.22 and a one year high of $146.72. The company has a market capitalization of $36.74 billion, a price-to-earnings ratio of 38.73 and a beta of 1.15.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842.00 million during the quarter, compared to the consensus estimate of $808.82 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.39 per share. This is an increase from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.08%. Intuit’s payout ratio is presently 41.94%.
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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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