HL Financial Services LLC reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,293 shares of the software maker’s stock after selling 384 shares during the period. HL Financial Services LLC’s holdings in Intuit were worth $993,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its stake in Intuit by 1.0% during the second quarter. Ameritas Investment Partners Inc. now owns 10,290 shares of the software maker’s stock worth $1,366,000 after buying an additional 105 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in Intuit by 1.0% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 31,600 shares of the software maker’s stock worth $4,986,000 after buying an additional 300 shares during the period. Bessemer Group Inc. grew its stake in Intuit by 11.9% during the fourth quarter. Bessemer Group Inc. now owns 3,070 shares of the software maker’s stock worth $484,000 after buying an additional 326 shares during the period. Cedar Capital LLC grew its stake in Intuit by 18.9% during the third quarter. Cedar Capital LLC now owns 2,142 shares of the software maker’s stock worth $304,000 after buying an additional 341 shares during the period. Finally, Nippon Life Insurance Co. grew its stake in Intuit by 3.3% during the third quarter. Nippon Life Insurance Co. now owns 12,183 shares of the software maker’s stock worth $1,732,000 after buying an additional 387 shares during the period. Institutional investors own 86.58% of the company’s stock.
In other Intuit news, Chairman Scott D. Cook sold 112,731 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $160.97, for a total transaction of $18,146,309.07. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mark J. Flournoy sold 13,424 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $155.56, for a total transaction of $2,088,237.44. The disclosure for this sale can be found here. Insiders have sold a total of 965,938 shares of company stock worth $149,469,127 over the last quarter. 5.59% of the stock is currently owned by insiders.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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 net margin of 18.62% and a return on equity of 77.56%. The firm had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. analysts anticipate that Intuit Inc. will post 4.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a yield of 0.95%. Intuit’s dividend payout ratio (DPR) is 41.38%.
Several equities research analysts have issued reports on the stock. Citigroup reiterated a “hold” rating and set a $170.00 price objective (up from $157.00) on shares of Intuit in a research note on Monday, January 29th. Oppenheimer boosted their price objective on shares of Intuit from $166.00 to $181.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Credit Suisse Group reiterated an “outperform” rating and set a $185.00 price objective (up from $170.00) on shares of Intuit in a research note on Tuesday, January 9th. Finally, Deutsche Bank reiterated a “buy” rating and set a $180.00 price objective on shares of Intuit in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $158.32.
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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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