Intuit Inc. (INTU) Shares Bought by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. boosted its stake in Intuit Inc. (NASDAQ:INTU) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,040 shares of the software maker’s stock after buying an additional 27 shares during the period. Wetherby Asset Management Inc.’s holdings in Intuit were worth $935,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. BlackRock Inc. raised its position in Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock valued at $2,014,036,000 after buying an additional 16,306,976 shares in the last quarter. Vanguard Group Inc. raised its position in Intuit by 2.2% in the first quarter. Vanguard Group Inc. now owns 16,373,494 shares of the software maker’s stock valued at $1,899,162,000 after buying an additional 359,330 shares in the last quarter. Morgan Stanley raised its position in Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock valued at $403,505,000 after buying an additional 966,936 shares in the last quarter. Janus Capital Management LLC raised its position in Intuit by 5.4% in the first quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock valued at $312,593,000 after buying an additional 138,184 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Intuit by 7.8% in the first quarter. Geode Capital Management LLC now owns 2,686,750 shares of the software maker’s stock valued at $311,244,000 after buying an additional 194,751 shares in the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.
Shares of Intuit Inc. (INTU) opened at 135.16 on Friday. The firm has a 50-day moving average price of $135.14 and a 200-day moving average price of $127.61. The firm has a market capitalization of $34.63 billion, a PE ratio of 38.84 and a beta of 1.15. Intuit Inc. has a 1-year low of $103.22 and a 1-year high of $143.81.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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. The company 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 firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.43 EPS. On average, analysts forecast that Intuit Inc. will post $4.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were given 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 yield of 1.01%. Intuit’s payout ratio is currently 39.19%.
Several research analysts have recently commented on INTU shares. Stifel Nicolaus raised their price target on Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Citigroup Inc. lowered Intuit from a “buy” rating to a “neutral” rating and decreased their target price for the company from $148.00 to $141.00 in a report on Monday, June 26th. Deutsche Bank AG lifted their target price on Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, May 25th. BidaskClub lowered Intuit from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Royal Bank Of Canada lifted their target price on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. Intuit has an average rating of “Buy” and an average price target of $135.63.
In other news, EVP Henry Tayloe Stansbury sold 3,742 shares of the stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $137.92, for a total transaction of $516,096.64. Following the transaction, the executive vice president now owns 4,580 shares of the company’s stock, valued at $631,673.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 74,052 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total transaction of $10,327,291.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,265 shares of company stock valued at $21,085,104. 5.70% of the stock is currently owned by corporate insiders.
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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