HPM Partners LLC Trims Position in Intuit Inc. (INTU)
HPM Partners LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 3.8% in the fourth quarter, Holdings Channel reports. The fund owned 25,495 shares of the software maker’s stock after selling 1,007 shares during the quarter. HPM Partners LLC’s holdings in Intuit were worth $4,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Intuit by 3.0% in the fourth quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock valued at $2,669,740,000 after acquiring an additional 486,554 shares during the last quarter. Geode Capital Management LLC lifted its position in Intuit by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 3,020,966 shares of the software maker’s stock valued at $475,804,000 after acquiring an additional 167,550 shares during the last quarter. APG Asset Management N.V. lifted its position in Intuit by 102.0% in the fourth quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock valued at $215,555,000 after acquiring an additional 828,387 shares during the last quarter. Franklin Resources Inc. lifted its position in Intuit by 1.8% in the fourth quarter. Franklin Resources Inc. now owns 1,421,635 shares of the software maker’s stock valued at $224,306,000 after acquiring an additional 25,601 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Intuit by 4.2% in the third quarter. Legal & General Group Plc now owns 1,274,857 shares of the software maker’s stock valued at $181,210,000 after acquiring an additional 51,879 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.
INTU has been the subject of a number of research reports. Barclays upped their target price on shares of Intuit from $135.00 to $157.00 and gave the company an “equal weight” rating in a report on Wednesday, November 15th. Royal Bank of Canada upped their target price on shares of Intuit from $141.00 to $160.00 and gave the company a “sector perform” rating in a report on Thursday, November 16th. Jefferies Group reaffirmed a “buy” rating and issued a $185.00 target price on shares of Intuit in a report on Tuesday, November 21st. Citigroup upped their target price on shares of Intuit to $170.00 in a report on Tuesday, November 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $148.00 target price on shares of Intuit in a report on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. Intuit has a consensus rating of “Hold” and a consensus target price of $166.53.
Intuit Inc. (NASDAQ:INTU) opened at $177.17 on Friday. The stock has a market cap of $45,375.18, a PE ratio of 48.67, a P/E/G ratio of 2.70 and a beta of 1.15. Intuit Inc. has a 1-year low of $114.80 and a 1-year high of $177.51. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Intuit had a net margin of 17.48% and a return on equity of 72.52%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. analysts predict that Intuit Inc. will post 4.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Tuesday, April 10th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.56 annualized dividend and a yield of 0.88%. Intuit’s dividend payout ratio is currently 42.86%.
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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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