ETF Managers Group LLC Buys Shares of 1,055 Intuit Inc. (INTU)
ETF Managers Group LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent filing with the SEC. The firm bought 1,055 shares of the software maker’s stock, valued at approximately $140,000.
Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new position in Intuit in the 2nd quarter valued at $108,000. Guardian Life Insurance Co. of America grew its stake in Intuit by 0.5% in the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after buying an additional 5 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Intuit in the 2nd quarter valued at $123,000. Johnson Financial Group Inc. grew its stake in Intuit by 5.8% in the 1st quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after buying an additional 59 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Intuit in the 2nd quarter valued at $140,000. Institutional investors and hedge funds own 85.96% of the company’s stock.
In related news, Chairman Scott D. Cook sold 183,334 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of the company’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $144.20, for a total transaction of $257,108.60. Following the completion of the transaction, 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 sold 1,084,194 shares of company stock worth $151,162,540 over the last 90 days. 5.70% of the stock is currently owned by corporate insiders.
Intuit Inc. (NASDAQ:INTU) traded up 1.20% during trading on Friday, hitting $144.18. 992,714 shares of the stock were exchanged. The stock has a market capitalization of $36.76 billion, a price-to-earnings ratio of 38.76 and a beta of 1.15. The firm has a 50-day moving average of $141.39 and a 200-day moving average of $133.19. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $146.72.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The business had revenue of $842.00 million for the quarter, compared to the consensus estimate of $808.82 million. During the same period in the prior year, the company posted $0.08 earnings per share. Intuit’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.08%. Intuit’s dividend payout ratio is 36.56%.
INTU has been the topic of a number of research analyst reports. Jefferies Group LLC initiated coverage on shares of Intuit in a research note on Thursday, August 24th. They issued a “buy” rating and a $157.00 target price on the stock. Oppenheimer Holdings, Inc. raised their target price on shares of Intuit from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. Bank of America Corporation reiterated a “buy” rating and issued a $145.00 target price on shares of Intuit in a research note on Wednesday, August 23rd. Credit Suisse Group reissued an “outperform” rating and issued a $155.00 price target (up from $150.00) on shares of Intuit in a report on Wednesday, August 23rd. Finally, UBS AG downgraded shares of Intuit to an “underperform” rating in a report on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Intuit presently has an average rating of “Hold” and an average price target of $142.74.
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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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