QS Investors LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 55.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,528 shares of the software maker’s stock after selling 6,788 shares during the period. QS Investors LLC’s holdings in Intuit were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in INTU. Capital Analysts LLC bought a new position in shares of Intuit during the first quarter worth approximately $27,000. Solstein Capital LLC acquired a new stake in Intuit during the first quarter worth approximately $29,000. Atlantic Trust LLC acquired a new stake in Intuit during the second quarter worth approximately $30,000. Stonebridge Capital Advisors LLC acquired a new stake in Intuit during the first quarter worth approximately $32,000. Finally, First Manhattan Co. acquired a new stake in Intuit during the first quarter worth approximately $44,000. Institutional investors own 84.42% of the company’s stock.
Shares of NASDAQ:INTU opened at $534.94 on Thursday. The firm has a market cap of $146.09 billion, a P/E ratio of 71.42, a P/E/G ratio of 4.82 and a beta of 1.03. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.21. Intuit Inc. has a 12-month low of $312.05 and a 12-month high of $582.96. The business has a fifty day simple moving average of $550.51 and a 200 day simple moving average of $486.92.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 18th. Investors of record on Monday, October 11th will be given a dividend of $0.68 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.59. This represents a $2.72 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, October 8th. Intuit’s dividend payout ratio (DPR) is currently 35.98%.
In other news, EVP Gregory N. Johnson sold 14,843 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The stock was sold at an average price of $552.43, for a total value of $8,199,718.49. Following the transaction, the executive vice president now owns 1,520 shares in the company, valued at approximately $839,693.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michelle M. Clatterbuck sold 1,652 shares of the business’s stock in a transaction that occurred on Thursday, August 26th. The stock was sold at an average price of $549.26, for a total value of $907,377.52. Following the completion of the transaction, the chief financial officer now owns 546 shares in the company, valued at approximately $299,895.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,736 shares of company stock valued at $33,491,613. 3.38% of the stock is owned by corporate insiders.
INTU has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on Intuit from $510.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 25th. KeyCorp increased their price target on Intuit from $475.00 to $625.00 and gave the stock an “overweight” rating in a research report on Thursday, August 26th. Piper Sandler raised their target price on Intuit from $498.00 to $621.00 and gave the company an “overweight” rating in a report on Wednesday, August 25th. Edward Jones began coverage on Intuit in a report on Thursday, August 26th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group raised their target price on Intuit from $525.00 to $630.00 and gave the company a “buy” rating in a report on Monday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $544.55.
Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
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