JPMorgan Chase & Co. raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 45.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,222 shares of the software maker’s stock after purchasing an additional 129,534 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.16% of Intuit worth $59,233,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Exane Derivatives bought a new position in Intuit during the 3rd quarter worth $105,000. Horan Capital Advisors LLC. bought a new position in Intuit during the 3rd quarter worth $114,000. Captrust Financial Advisors bought a new position in Intuit during the 2nd quarter worth $108,000. Harvest Fund Management Co. Ltd bought a new position in Intuit during the 2nd quarter worth $140,000. Finally, ETF Managers Group LLC bought a new position in Intuit during the 2nd quarter worth $140,000. Hedge funds and other institutional investors own 86.28% of the company’s stock.
In other news, CEO Brad D. Smith sold 110,496 shares of Intuit stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total transaction of $16,729,094.40. Following the sale, the chief executive officer now directly owns 399,246 shares of the company’s stock, valued at $60,445,844.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark J. Flournoy sold 13,424 shares of Intuit stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $155.56, for a total value of $2,088,237.44. The disclosure for this sale can be found here. Insiders have sold 898,807 shares of company stock worth $132,768,878 over the last three months. Insiders own 5.59% of the company’s stock.
Intuit Inc. (NASDAQ:INTU) opened at $155.56 on Friday. Intuit Inc. has a 12-month low of $111.90 and a 12-month high of $158.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $39,929.96, a PE ratio of 41.76, a price-to-earnings-growth ratio of 2.81 and a beta of 1.18.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.30. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The firm had revenue of $886.00 million for the quarter, compared to analyst estimates of $855.74 million. During the same period last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. equities research analysts forecast that Intuit Inc. will post 3.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Tuesday, January 9th. Intuit’s payout ratio is 41.38%.
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Intuit Company Profile
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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