Fiduciary Trust Co. cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 11.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,942 shares of the software maker’s stock after selling 497 shares during the period. Fiduciary Trust Co.’s holdings in Intuit were worth $457,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. National Pension Service increased its position in Intuit by 2.6% in the first quarter. National Pension Service now owns 200,470 shares of the software maker’s stock valued at $23,178,000 after buying an additional 5,096 shares in the last quarter. Addenda Capital Inc. increased its position in Intuit by 5.5% in the first quarter. Addenda Capital Inc. now owns 41,329 shares of the software maker’s stock valued at $4,793,000 after buying an additional 2,169 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Intuit by 2.2% in the first quarter. Gulf International Bank UK Ltd now owns 75,405 shares of the software maker’s stock valued at $8,746,000 after buying an additional 1,600 shares during the period. Forte Capital LLC ADV increased its stake in shares of Intuit by 8.8% in the first quarter. Forte Capital LLC ADV now owns 28,808 shares of the software maker’s stock valued at $3,341,000 after buying an additional 2,340 shares during the period. Finally, Creative Planning increased its stake in shares of Intuit by 8.5% in the first quarter. Creative Planning now owns 14,261 shares of the software maker’s stock valued at $1,654,000 after buying an additional 1,123 shares during the period. Institutional investors own 85.29% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) traded down 0.90% during mid-day trading on Friday, hitting $135.64. 979,628 shares of the company traded hands. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The stock has a market capitalization of $34.75 billion, a price-to-earnings ratio of 38.98 and a beta of 1.14. The company’s 50-day moving average is $136.01 and its 200-day moving average is $126.38.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business earned $3.43 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. Analysts predict that Intuit Inc. will post $4.39 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were paid a $0.34 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.00%. Intuit’s dividend payout ratio is presently 39.19%.
Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Credit Suisse Group raised their price objective on shares of Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Citigroup Inc. lowered shares of Intuit from a “buy” rating to a “neutral” rating and decreased their price target for the company from $148.00 to $141.00 in a report on Monday, June 26th. Royal Bank Of Canada lifted their price target on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 24th. Finally, Barclays PLC decreased their price target on shares of Intuit from $129.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $135.63.
In other Intuit news, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total transaction of $2,203,602.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock valued at $21,085,104 over the last three months. 5.70% of the stock is owned by company insiders.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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