Trust Co. of Virginia VA reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,484 shares of the software maker’s stock after selling 500 shares during the quarter. Trust Co. of Virginia VA’s holdings in Intuit were worth $2,189,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Guardian Life Insurance Co. of America grew its position in Intuit by 0.5% during the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Intuit during the second quarter worth about $123,000. Johnson Financial Group Inc. grew its position in Intuit by 5.8% during the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares during the period. Lincoln National Corp acquired a new position in Intuit during the first quarter worth about $205,000. Finally, Pax World Management LLC acquired a new position in Intuit during the first quarter worth about $205,000. Institutional investors own 85.63% of the company’s stock.
In other Intuit news, Chairman Scott D. Cook sold 183,334 shares of Intuit stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 685,925 shares of company stock valued at $94,039,250. 5.70% of the stock is currently owned by corporate insiders.
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Shares of Intuit Inc. (INTU) traded up 0.40% during trading on Friday, reaching $141.56. 953,284 shares of the company traded hands. The firm has a market capitalization of $36.38 billion, a PE ratio of 38.05 and a beta of 1.15. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $143.81. The firm has a 50-day moving average price of $137.54 and a 200-day moving average price of $130.48.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The business had revenue of $842 million during the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.08 earnings per share. Equities research analysts anticipate that Intuit Inc. will post $4.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be issued a dividend of $0.39 per share. This is a boost from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, October 6th. Intuit’s dividend payout ratio (DPR) is currently 36.56%.
INTU has been the topic of several recent analyst reports. Royal Bank Of Canada upped their target price on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 24th. Stifel Nicolaus upped their price target on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. Deutsche Bank AG upped their price target on shares of Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Bank of America Corporation upped their price target on shares of Intuit from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Finally, Citigroup Inc. upped their price target on shares of Intuit from $128.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $138.28.
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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