1,885 Shares in Intuit Inc. (INTU) Acquired by MML Investors Services LLC
MML Investors Services LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,885 shares of the software maker’s stock, valued at approximately $250,000.
Several other institutional investors also recently modified their holdings of the company. ETRADE Capital Management LLC acquired a new position in shares of Intuit in the 2nd quarter valued at $852,000. Vanguard Group Inc. grew its position in shares of Intuit by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,818,170 shares of the software maker’s stock valued at $2,233,621,000 after buying an additional 444,676 shares during the last quarter. Pinebridge Investments L.P. grew its position in shares of Intuit by 397.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,139 shares of the software maker’s stock valued at $284,000 after buying an additional 1,709 shares during the last quarter. Menta Capital LLC acquired a new stake in Intuit during the 2nd quarter worth $284,000. Finally, UBS Asset Management Americas Inc. raised its stake in Intuit by 5.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 818,343 shares of the software maker’s stock worth $108,684,000 after acquiring an additional 45,333 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.
In other Intuit news, VP Mark J. Flournoy sold 1,868 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $142.31, for a total value of $265,835.08. Following the sale, the vice president now directly owns 1,713 shares in the company, valued at $243,777.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total value of $257,108.60. Following the completion of the sale, the executive vice president now owns 2,675 shares in the company, valued at $385,735. The disclosure for this sale can be found here. Insiders have sold a total of 1,084,194 shares of company stock valued at $151,162,540 in the last 90 days. Insiders own 5.70% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Argus assumed coverage on shares of Intuit in a research report on Wednesday, September 20th. They issued a “buy” rating and a $165.00 price target for the company. Moffett Nathanson initiated coverage on shares of Intuit in a research note on Thursday, September 7th. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a report on Monday, August 28th. Jefferies Group LLC initiated coverage on Intuit in a report on Thursday, August 24th. They set a “buy” rating and a $157.00 price objective on the stock. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $145.00 price objective on shares of Intuit in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Intuit currently has an average rating of “Hold” and a consensus price target of $142.74.
Intuit Inc. (INTU) opened at 141.85 on Wednesday. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $146.72. The stock has a market capitalization of $36.17 billion, a PE ratio of 38.13 and a beta of 1.15. The company’s 50-day moving average is $140.82 and its 200 day moving average is $132.90.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $842.00 million for the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. On average, analysts predict that Intuit Inc. will post $4.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is currently 36.56%.
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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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