LS Investment Advisors LLC Purchases 359 Shares of Intuit Inc. (INTU)
LS Investment Advisors LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,886 shares of the software maker’s stock after purchasing an additional 359 shares during the period. LS Investment Advisors LLC’s holdings in Intuit were worth $1,086,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oakbrook Investments LLC raised its stake in shares of Intuit by 118.1% in the 3rd quarter. Oakbrook Investments LLC now owns 21,425 shares of the software maker’s stock valued at $3,045,000 after purchasing an additional 11,600 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Intuit by 0.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 375,423 shares of the software maker’s stock valued at $53,363,000 after acquiring an additional 1,870 shares during the last quarter. Bank of Montreal Can increased its position in shares of Intuit by 71.7% in the fourth quarter. Bank of Montreal Can now owns 471,620 shares of the software maker’s stock valued at $74,412,000 after acquiring an additional 196,911 shares during the last quarter. Asset Advisors Corp increased its position in shares of Intuit by 2.5% in the third quarter. Asset Advisors Corp now owns 92,565 shares of the software maker’s stock valued at $13,157,000 after acquiring an additional 2,300 shares during the last quarter. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Intuit in the third quarter valued at about $959,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on INTU. Morgan Stanley lifted their target price on Intuit from $110.00 to $120.00 and gave the company an “underweight” rating in a research report on Tuesday, November 21st. Barclays lifted their target price on Intuit from $157.00 to $168.00 and gave the company an “equal weight” rating in a research report on Tuesday. Oppenheimer reaffirmed a “buy” rating and issued a $166.00 target price (up previously from $159.00) on shares of Intuit in a research report on Tuesday, November 21st. Jefferies Group reaffirmed a “buy” rating and issued a $185.00 target price on shares of Intuit in a research report on Tuesday, November 21st. Finally, Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. Intuit currently has an average rating of “Hold” and a consensus price target of $159.42.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.30. The firm had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. equities analysts forecast that Intuit Inc. will post 4.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 41.38%.
In other Intuit news, VP Mark J. Flournoy sold 13,424 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $155.56, for a total transaction of $2,088,237.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brad D. Smith sold 110,496 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total value of $16,729,094.40. Following the transaction, the chief executive officer now directly owns 399,246 shares in the company, valued at approximately $60,445,844.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 965,938 shares of company stock worth $149,469,127. Company insiders own 5.59% of the company’s stock.
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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