Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,202,408 shares of the software maker’s stock after selling 6,402 shares during the quarter. Intuit comprises 3.3% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 7th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.47% of Intuit worth $170,911,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of INTU. Exane Derivatives acquired a new stake in shares of Intuit in the third quarter valued at about $105,000. Captrust Financial Advisors acquired a new stake in shares of Intuit in the second quarter valued at about $108,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of Intuit in the second quarter valued at about $123,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Intuit in the second quarter valued at about $140,000. Finally, ETF Managers Group LLC acquired a new stake in shares of Intuit in the second quarter valued at about $140,000. 86.06% of the stock is currently owned by institutional investors.
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Intuit Inc. (NASDAQ INTU) traded up 0.22% during midday trading on Wednesday, reaching $151.35. 83,718 shares of the company traded hands. The stock has a market capitalization of $38.59 billion, a P/E ratio of 40.69 and a beta of 1.15. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $153.86. The company has a 50 day moving average of $145.33 and a 200-day moving average of $136.89.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $842.00 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 business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $0.08 earnings per share. Equities analysts anticipate that Intuit Inc. will post $4.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.03%. This is a boost from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, October 6th. Intuit’s dividend payout ratio (DPR) is presently 41.94%.
A number of equities research analysts recently weighed in on the company. Oppenheimer Holdings, Inc. lifted their target price on Intuit from $146.00 to $159.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Argus assumed coverage on Intuit in a research report on Wednesday, September 20th. They set a “buy” rating and a $165.00 target price on the stock. Wells Fargo & Company raised Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price on the stock in a research report on Thursday, September 21st. Finally, UBS AG downgraded Intuit to an “underperform” rating in a research report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Intuit currently has an average rating of “Hold” and a consensus target price of $143.42.
In other Intuit news, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction 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 this hyperlink. Also, EVP Henry Tayloe Stansbury sold 28,048 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $146.19, for a total transaction of $4,100,337.12. Following the completion of the sale, the executive vice president now owns 28,940 shares of the company’s stock, valued at $4,230,738.60. 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 90 days. Corporate insiders own 5.70% of the company’s stock.
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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