Intuit Inc. (INTU) Position Lowered by Bath Savings Trust Co
Bath Savings Trust Co decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,962 shares of the software maker’s stock after selling 1,203 shares during the quarter. Intuit makes up 2.5% of Bath Savings Trust Co’s portfolio, making the stock its 11th biggest position. Bath Savings Trust Co’s holdings in Intuit were worth $9,233,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in INTU. BlackRock Inc. lifted its stake in shares of Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after acquiring an additional 16,306,976 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Intuit by 612.6% in the second quarter. Janus Henderson Group PLC now owns 2,602,136 shares of the software maker’s stock worth $345,589,000 after acquiring an additional 2,236,974 shares in the last quarter. Koch Industries Inc. lifted its stake in shares of Intuit by 38,665.6% in the second quarter. Koch Industries Inc. now owns 1,438,591 shares of the software maker’s stock worth $1,428,000 after acquiring an additional 1,434,880 shares in the last quarter. Fundsmith LLP acquired a new position in shares of Intuit in the second quarter worth about $144,464,000. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in shares of Intuit in the second quarter worth about $136,099,000. Institutional investors and hedge funds own 85.97% of the company’s stock.
INTU has been the topic of several recent analyst reports. Citigroup Inc. cut Intuit from a “buy” rating to a “neutral” rating and cut their price target for the stock from $148.00 to $141.00 in a research note on Monday, June 26th. BidaskClub cut Intuit from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. First Analysis upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price target on the stock in a research note on Wednesday, August 23rd. Credit Suisse Group reiterated an “outperform” rating and issued a $155.00 price target (up previously from $150.00) on shares of Intuit in a research note on Wednesday, August 23rd. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $150.00 price target on shares of Intuit in a research note on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $142.74.
Intuit Inc. (INTU) traded up 0.32% during trading on Tuesday, hitting $145.21. The stock had a trading volume of 433,317 shares. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $146.99. The company has a market cap of $37.02 billion, a PE ratio of 39.03 and a beta of 1.15. The stock has a 50-day moving average price of $142.81 and a 200-day moving average price of $134.30.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $808.82 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. Intuit’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post $4.95 EPS for the current year.
The company also recently announced 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. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.08%. This is a boost from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is 41.94%.
In other news, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Henry Tayloe Stansbury sold 28,048 shares of Intuit stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $146.19, for a total transaction of $4,100,337.12. Following the completion of the transaction, the executive vice president now owns 28,940 shares of the company’s stock, valued at approximately $4,230,738.60. The disclosure for this sale can be found here. Insiders sold 1,084,194 shares of company stock valued at $151,162,540 in the last quarter. 5.70% of the stock is currently owned by corporate insiders.
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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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