Mercer Global Advisors Inc. ADV Has $5.85 Million Position in Intuit Inc. (NASDAQ:INTU)

Mercer Global Advisors Inc. ADV raised its stake in Intuit Inc. (NASDAQ:INTU) by 3.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,937 shares of the software maker’s stock after buying an additional 437 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Intuit were worth $5,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in INTU. BlackRock Inc. grew its stake in shares of Intuit by 6.8% in the first quarter. BlackRock Inc. now owns 23,146,353 shares of the software maker’s stock valued at $8,866,442,000 after acquiring an additional 1,464,341 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Intuit by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,586,386 shares of the software maker’s stock valued at $8,651,941,000 after acquiring an additional 1,025,000 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Intuit by 5.9% in the first quarter. Geode Capital Management LLC now owns 4,352,130 shares of the software maker’s stock valued at $1,662,539,000 after acquiring an additional 241,291 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Intuit by 7.9% in the first quarter. Ameriprise Financial Inc. now owns 3,223,219 shares of the software maker’s stock valued at $1,234,822,000 after acquiring an additional 235,112 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Intuit by 0.5% in the first quarter. Northern Trust Corp now owns 3,181,517 shares of the software maker’s stock valued at $1,218,712,000 after acquiring an additional 16,097 shares in the last quarter. Hedge funds and other institutional investors own 84.42% of the company’s stock.

Shares of NASDAQ:INTU opened at $572.88 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $539.32 and its two-hundred day simple moving average is $465.06. Intuit Inc. has a 1-year low of $295.37 and a 1-year high of $582.96. The stock has a market cap of $156.45 billion, a PE ratio of 76.49, a price-to-earnings-growth ratio of 4.82 and a beta of 1.03.

Intuit (NASDAQ:INTU) last released its earnings results on Monday, August 23rd. The software maker reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.38. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Intuit had a return on equity of 24.31% and a net margin of 21.41%. The business’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.81 EPS. On average, sell-side analysts forecast that Intuit Inc. will post 7.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 18th. Stockholders of record on Monday, October 11th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Intuit’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Friday, October 8th. Intuit’s payout ratio is presently 31.22%.

Several research firms recently weighed in on INTU. Royal Bank of Canada upped their price objective on shares of Intuit from $490.00 to $525.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 26th. Stifel Nicolaus upped their price objective on shares of Intuit from $490.00 to $625.00 and gave the stock a “buy” rating in a research report on Wednesday, August 25th. Morgan Stanley upped their price objective on shares of Intuit from $511.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 25th. Barclays upped their price objective on shares of Intuit from $540.00 to $645.00 and gave the stock an “overweight” rating in a research report on Monday, August 23rd. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $525.00 to $630.00 and gave the stock a “buy” rating in a report on Monday, August 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $544.55.

In related news, CFO Michelle M. Clatterbuck sold 9,343 shares of Intuit stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $562.56, for a total value of $5,255,998.08. Following the completion of the sale, the chief financial officer now owns 19,079 shares of the company’s stock, valued at approximately $10,733,082.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Alexander Chriss sold 2,022 shares of Intuit stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $562.53, for a total value of $1,137,435.66. Following the completion of the sale, the executive vice president now directly owns 3,234 shares of the company’s stock, valued at approximately $1,819,222.02. The disclosure for this sale can be found here. Insiders have sold a total of 60,447 shares of company stock worth $33,808,533 over the last quarter. Company insiders own 3.38% of the company’s stock.

Intuit Company Profile

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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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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