Checchi Capital Advisers LLC Has $343,000 Position in Intuit Inc. (INTU)
Checchi Capital Advisers LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 23.6% during the second quarter, Holdings Channel reports. The fund owned 2,583 shares of the software maker’s stock after selling 800 shares during the period. Checchi Capital Advisers LLC’s holdings in Intuit were worth $343,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of INTU. Guardian Life Insurance Co. of America raised its stake in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Intuit during the second quarter worth approximately $123,000. Johnson Financial Group Inc. raised its stake in Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in Intuit during the first quarter worth approximately $205,000. Finally, Lincoln National Corp bought a new stake in Intuit during the first quarter worth approximately $205,000. 85.18% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc. (NASDAQ INTU) opened at 137.47 on Wednesday. The stock has a market capitalization of $35.22 billion, a P/E ratio of 39.50 and a beta of 1.15. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $143.81. The stock has a 50 day moving average price of $134.97 and a 200-day moving average price of $128.16.
Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.03. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $3.43 earnings per share. Intuit’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post $4.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. Intuit’s dividend payout ratio is 39.19%.
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INTU has been the topic of a number of analyst reports. Benchmark Co. initiated coverage on Intuit in a research note on Thursday, April 27th. They set a “buy” rating and a $140.00 price objective on the stock. Citigroup Inc. increased their price objective on Intuit from $128.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Bank of America Corporation increased their price objective on Intuit from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Deutsche Bank AG increased their price objective on Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Finally, Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Monday, May 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. Intuit presently has an average rating of “Buy” and a consensus target price of $135.63.
In other Intuit news, EVP Laura A. Fennell sold 74,052 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total value of $10,327,291.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dennis D. Powell sold 16,686 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $136.82, for a total value of $2,282,978.52. Following the completion of the transaction, the director now owns 4,554 shares in the company, valued at approximately $623,078.28. The disclosure for this sale can be found here. Insiders have sold 151,265 shares of company stock worth $21,085,104 in the last quarter. 5.70% of the stock is currently owned by corporate insiders.
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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