Diversified Trust Co trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 16.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,223 shares of the software maker’s stock after selling 435 shares during the quarter. Diversified Trust Co’s holdings in Intuit were worth $658,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC grew its position in Intuit by 50.0% during the first quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after buying an additional 40 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in shares of Intuit in the 4th quarter worth $31,000. Cognios Capital LLC purchased a new position in shares of Intuit in the 1st quarter worth $32,000. Ameritas Investment Company LLC boosted its stake in shares of Intuit by 958.3% in the 4th quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock worth $33,000 after buying an additional 115 shares during the last quarter. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in shares of Intuit in the 1st quarter worth $35,000. Institutional investors own 86.17% of the company’s stock.
In other Intuit news, EVP James Alexander Chriss sold 337 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $291.10, for a total transaction of $98,100.70. Following the transaction, the executive vice president now directly owns 220 shares in the company, valued at approximately $64,042. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kerry J. Mclean sold 18,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $287.09, for a total transaction of $5,167,620.00. Following the transaction, the senior vice president now owns 23,399 shares in the company, valued at $6,717,618.91. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by corporate insiders.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.60 by ($0.11). The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3 billion. Intuit had a return on equity of 32.03% and a net margin of 19.50%. Intuit’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.55 earnings per share. As a group, sell-side analysts expect that Intuit Inc. will post 5.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Friday, July 10th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 37.99%.
INTU has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on Intuit from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. BidaskClub downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Bank of America lifted their price target on shares of Intuit from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Morgan Stanley lifted their price target on shares of Intuit from $277.00 to $290.00 and gave the company an “equal weight” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Co lifted their price target on shares of Intuit from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $306.00.
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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