L & S Advisors Inc trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,206 shares of the software maker’s stock after selling 379 shares during the quarter. Intuit makes up about 1.0% of L & S Advisors Inc’s investment portfolio, making the stock its 17th largest holding. L & S Advisors Inc’s holdings in Intuit were worth $7,894,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Intuit by 58.2% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 76,721 shares of the software maker’s stock valued at $20,049,000 after purchasing an additional 28,226 shares during the last quarter. FMR LLC lifted its position in shares of Intuit by 10.0% during the 1st quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock worth $2,671,557,000 after buying an additional 930,221 shares during the last quarter. Capital Advisors Inc. OK increased its holdings in shares of Intuit by 123.3% in the 2nd quarter. Capital Advisors Inc. OK now owns 46,718 shares of the software maker’s stock valued at $12,209,000 after acquiring an additional 25,797 shares during the period. Barbara Oil Co. acquired a new position in shares of Intuit in the 1st quarter valued at $209,000. Finally, Neuburgh Advisers LLC increased its holdings in shares of Intuit by 6.3% in the 2nd quarter. Neuburgh Advisers LLC now owns 49,436 shares of the software maker’s stock valued at $12,919,000 after acquiring an additional 2,924 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.
A number of equities analysts have recently commented on INTU shares. BidaskClub cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Credit Suisse Group lifted their target price on shares of Intuit from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Stifel Nicolaus lifted their target price on shares of Intuit from $290.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating and set a $268.00 target price on the stock. in a report on Wednesday, May 29th. Finally, Deutsche Bank lifted their target price on shares of Intuit from $290.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $277.00.
In other Intuit news, Chairman Scott D. Cook sold 133,334 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $262.87, for a total transaction of $35,049,508.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mark J. Flournoy sold 6,854 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $286.33, for a total transaction of $1,962,505.82. Following the sale, the chief accounting officer now owns 4,541 shares in the company, valued at $1,300,224.53. The disclosure for this sale can be found here. Insiders sold a total of 303,422 shares of company stock worth $82,506,746 over the last three months. 4.60% of the stock is currently owned by corporate insiders.
Shares of INTU opened at $268.31 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market capitalization of $69.59 billion, a P/E ratio of 48.08, a P/E/G ratio of 2.61 and a beta of 1.10. The company’s fifty day moving average is $278.51 and its two-hundred day moving average is $262.64. Intuit Inc. has a 1 year low of $182.61 and a 1 year high of $295.77.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.37. The company had revenue of $994.00 million for the quarter, compared to analysts’ expectations of $964.02 million. Intuit had a net margin of 22.95% and a return on equity of 43.86%. Intuit’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Sell-side analysts predict that Intuit Inc. will post 6.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $0.53 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, October 9th. Intuit’s payout ratio is currently 33.69%.
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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