Middleton & Co Inc MA lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 19,138 shares of the software maker’s stock after selling 102 shares during the period. Middleton & Co Inc MA’s holdings in Intuit were worth $5,089,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in INTU. West Oak Capital LLC acquired a new stake in shares of Intuit during the third quarter worth $27,000. Manchester Financial Inc. acquired a new position in shares of Intuit during the second quarter valued at about $30,000. FNY Investment Advisers LLC acquired a new position in shares of Intuit during the second quarter valued at about $30,000. NewSquare Capital LLC acquired a new position in shares of Intuit during the second quarter valued at about $42,000. Finally, Ibex Wealth Advisors acquired a new position in shares of Intuit during the second quarter valued at about $48,000. 87.12% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Argus set a $325.00 price objective on shares of Intuit and gave the company a “buy” rating in a report on Monday, August 26th. Deutsche Bank lifted their price objective on shares of Intuit from $290.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays lifted their price objective on shares of Intuit from $245.00 to $276.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. KeyCorp lifted their price objective on shares of Intuit from $300.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Credit Suisse Group lifted their price objective on shares of Intuit from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $277.00.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.37. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The company had revenue of $994.00 million for the quarter, compared to analyst estimates of $964.02 million. During the same period last year, the firm earned $0.32 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Analysts predict that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $0.53 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Wednesday, October 9th. Intuit’s dividend payout ratio (DPR) is presently 37.99%.
In other Intuit news, Chairman Scott D. Cook sold 133,333 shares of Intuit stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $278.53, for a total value of $37,137,240.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jeffrey David Ayers sold 39,689 shares of Intuit stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $17.15, for a total transaction of $680,666.35. Insiders have sold 285,279 shares of company stock worth $68,553,645 over the last three months. 4.60% of the stock is owned by insiders.
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.
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