The Manufacturers Life Insurance Company Acquires 6,193 Shares of Intuit Inc. (INTU)

The Manufacturers Life Insurance Company boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,335 shares of the software maker’s stock after acquiring an additional 6,193 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Intuit worth $37,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Guardian Life Insurance Co. of America grew its holdings in Intuit by 0.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after acquiring an additional 5 shares in the last quarter. FineMark National Bank & Trust grew its holdings in Intuit by 0.4% during the 2nd quarter. FineMark National Bank & Trust now owns 2,716 shares of the software maker’s stock worth $361,000 after acquiring an additional 11 shares in the last quarter. Cue Financial Group Inc. grew its holdings in Intuit by 0.3% during the 2nd quarter. Cue Financial Group Inc. now owns 7,004 shares of the software maker’s stock worth $930,000 after acquiring an additional 20 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in Intuit by 0.6% during the 1st quarter. Harbour Capital Advisors LLC now owns 4,061 shares of the software maker’s stock worth $471,000 after acquiring an additional 25 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its holdings in Intuit by 0.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock worth $935,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

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Several brokerages have issued reports on INTU. Jefferies Group LLC began coverage on shares of Intuit in a report on Thursday, August 24th. They set a “buy” rating and a $157.00 target price on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $150.00 target price on shares of Intuit in a report on Wednesday, August 23rd. Bank of America Corporation reiterated a “buy” rating and set a $145.00 target price on shares of Intuit in a report on Wednesday, August 23rd. Moffett Nathanson began coverage on shares of Intuit in a report on Thursday, September 7th. They set a “buy” rating and a $150.00 target price on the stock. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $132.00 target price on shares of Intuit in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Intuit presently has a consensus rating of “Hold” and a consensus price target of $142.74.

Shares of Intuit Inc. (NASDAQ:INTU) traded up 0.17% during trading on Friday, hitting $146.11. 172,426 shares of the company traded hands. The company has a 50-day moving average of $142.36 and a 200-day moving average of $133.88. The stock has a market capitalization of $37.25 billion, a PE ratio of 39.28 and a beta of 1.15. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $146.99.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. The firm had revenue of $842.00 million during the quarter, compared to the consensus estimate of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 earnings per share. Equities analysts expect that Intuit Inc. will post $4.95 EPS for the current year.

The firm 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.07%. This is an increase from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, October 6th. Intuit’s dividend payout ratio is 41.94%.

In related news, EVP Henry Tayloe Stansbury sold 1,783 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $144.20, for a total value of $257,108.60. Following the completion of the transaction, the executive vice president now directly owns 2,675 shares of the company’s stock, valued at $385,735. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sasan K. Goodarzi sold 98,901 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $135.22, for a total value of $13,373,393.22. Following the completion of the transaction, the executive vice president now directly owns 7,801 shares of the company’s stock, valued at $1,054,851.22. The disclosure for this sale can be found here. Insiders sold 1,084,194 shares of company stock valued at $151,162,540 over the last ninety days. 5.70% of the stock is currently owned by corporate insiders.

About Intuit

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.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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