Daiwa Securities Group Inc. Has $1.62 Million Stake in Intuit Inc. (NASDAQ:INTU)
Daiwa Securities Group Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 41.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,200 shares of the software maker’s stock after selling 8,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Intuit were worth $1,620,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in INTU. Bessemer Group Inc. increased its position in Intuit by 18.7% in the second quarter. Bessemer Group Inc. now owns 2,891 shares of the software maker’s stock worth $384,000 after buying an additional 455 shares during the last quarter. Lyell Wealth Management LP increased its position in Intuit by 5.6% in the second quarter. Lyell Wealth Management LP now owns 26,001 shares of the software maker’s stock worth $3,453,000 after buying an additional 1,385 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in Intuit by 26.1% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 36,050 shares of the software maker’s stock worth $4,788,000 after buying an additional 7,452 shares during the last quarter. CIBC Asset Management Inc increased its position in Intuit by 3.0% in the second quarter. CIBC Asset Management Inc now owns 31,663 shares of the software maker’s stock worth $4,205,000 after buying an additional 929 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC increased its position in Intuit by 0.6% in the second quarter. Pillar Pacific Capital Management LLC now owns 49,943 shares of the software maker’s stock worth $6,632,000 after buying an additional 300 shares during the last quarter. 85.57% of the stock is owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 136.82 on Thursday. The firm has a market cap of $35.06 billion, a PE ratio of 39.32 and a beta of 1.15. The firm has a 50-day moving average of $135.29 and a 200 day moving average of $127.56. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $143.81.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.43 earnings per share. On average, equities analysts predict that Intuit Inc. will post $4.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were issued a $0.34 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 39.19%.
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A number of research firms have recently commented on INTU. BidaskClub downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $148.00 to $141.00 in a report on Monday, June 26th. Zacks Investment Research raised shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Monday, May 29th. Barclays PLC reaffirmed an “equal weight” rating on shares of Intuit in a report on Sunday, May 28th. Finally, CIBC raised their price objective on shares of Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $135.63.
In other news, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total value of $253,127.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock valued at $21,085,104 in the last three months. Company insiders own 5.70% of the company’s stock.
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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