Intuit Inc. (INTU) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 21.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,039,884 shares of the software maker’s stock after selling 286,367 shares during the period. Prudential Financial Inc. owned about 0.41% of Intuit worth $147,809,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Intuit during the 2nd quarter worth approximately $291,000. Oppenheimer Asset Management Inc. increased its stake in Intuit by 10.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,304 shares of the software maker’s stock worth $970,000 after buying an additional 717 shares during the period. State of Tennessee Treasury Department increased its stake in Intuit by 0.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 66,574 shares of the software maker’s stock worth $8,842,000 after buying an additional 193 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Intuit by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,084 shares of the software maker’s stock worth $2,402,000 after buying an additional 59 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Intuit by 9.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 35,871 shares of the software maker’s stock worth $4,764,000 after buying an additional 2,956 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Brad D. Smith sold 110,496 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $151.40, for a total value of $16,729,094.40. Following the completion of the transaction, the chief executive officer now owns 399,246 shares in the company, valued at approximately $60,445,844.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $151.35, for a total transaction of $326,613.30. Following the completion of the transaction, the executive vice president now owns 3,050 shares of the company’s stock, valued at approximately $461,617.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 965,938 shares of company stock valued at $149,469,127. Company insiders own 5.59% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) opened at $158.72 on Wednesday. Intuit Inc. has a 52-week low of $111.90 and a 52-week high of $161.44. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $40,580.00, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 2.84 and a beta of 1.18.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million for the quarter, compared to the consensus estimate of $855.74 million. During the same period in the prior year, the firm posted $0.06 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. equities research analysts anticipate that Intuit Inc. will post 3.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Tuesday, January 9th. Intuit’s payout ratio is 41.27%.
Several equities research analysts recently weighed in on the stock. William Blair assumed coverage on shares of Intuit in a research note on Tuesday, September 19th. They set an “outperform” rating on the stock. UBS Group downgraded shares of Intuit to an “underperform” rating in a research note on Wednesday, September 27th. Wells Fargo & Co raised shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price on the stock in a research note on Thursday, September 21st. Argus assumed coverage on shares of Intuit in a research note on Wednesday, September 20th. They set a “buy” rating and a $165.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $148.00 target price on shares of Intuit in a research note on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $153.89.
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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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