Coastline Trust Co Decreases Holdings in Intuit Inc. (NASDAQ:INTU)
Coastline Trust Co cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,820 shares of the software maker’s stock after selling 45 shares during the quarter. Coastline Trust Co’s holdings in Intuit were worth $1,572,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in shares of Intuit by 33.3% in the first quarter. Advisors Asset Management Inc. now owns 10,043 shares of the software maker’s stock worth $2,310,000 after buying an additional 2,510 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Intuit by 7.8% in the third quarter. State of Alaska Department of Revenue now owns 58,725 shares of the software maker’s stock worth $19,155,000 after buying an additional 4,271 shares during the period. AXA increased its stake in shares of Intuit by 8.0% in the first quarter. AXA now owns 293,329 shares of the software maker’s stock worth $67,465,000 after buying an additional 21,694 shares during the period. APG Asset Management N.V. increased its stake in shares of Intuit by 12.9% in the first quarter. APG Asset Management N.V. now owns 267,921 shares of the software maker’s stock worth $61,622,000 after buying an additional 30,651 shares during the period. Finally, FDx Advisors Inc. increased its stake in shares of Intuit by 96.9% in the first quarter. FDx Advisors Inc. now owns 6,204 shares of the software maker’s stock worth $1,427,000 after buying an additional 3,053 shares during the period. 85.52% of the stock is currently owned by hedge funds and other institutional investors.
In other Intuit news, EVP Laura A. Fennell sold 29,204 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $320.34, for a total value of $9,355,209.36. Following the completion of the transaction, the executive vice president now owns 95,313 shares of the company’s stock, valued at approximately $30,532,566.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Brad D. Smith sold 18,773 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $342.01, for a total value of $6,420,553.73. Following the completion of the transaction, the chairman now directly owns 304,706 shares of the company’s stock, valued at approximately $104,212,499.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 244,742 shares of company stock valued at $83,471,109. 4.09% of the stock is owned by insiders.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 25th. The software maker reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.95. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.57 billion. Intuit had a return on equity of 40.79% and a net margin of 23.78%. Intuit’s quarterly revenue was up 81.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 7.11 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Monday, October 12th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $0.53. Intuit’s payout ratio is currently 35.98%.
INTU has been the topic of several analyst reports. Mizuho lifted their target price on shares of Intuit from $330.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Piper Sandler lifted their price target on shares of Intuit from $351.00 to $373.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. BidaskClub upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Wednesday. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $315.00 to $400.00 in a report on Monday, October 5th. Finally, Guggenheim lifted their price target on shares of Intuit from $320.00 to $395.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $360.94.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
Recommended Story: What is the LIBOR?
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.