Intuit Inc. (INTU) Shares Sold by Quest Investment Management LLC
Quest Investment Management LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,781 shares of the software maker’s stock after selling 1,395 shares during the quarter. Intuit comprises approximately 2.0% of Quest Investment Management LLC’s portfolio, making the stock its 16th largest holding. Quest Investment Management LLC’s holdings in Intuit were worth $13,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently made changes to their positions in INTU. Global X Management Co. LLC raised its stake in Intuit by 68.1% during the 1st quarter. Global X Management Co. LLC now owns 45,855 shares of the software maker’s stock worth $7,949,000 after acquiring an additional 18,572 shares in the last quarter. FDx Advisors Inc. raised its stake in Intuit by 15.6% during the 1st quarter. FDx Advisors Inc. now owns 12,706 shares of the software maker’s stock worth $2,203,000 after acquiring an additional 1,712 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in Intuit by 16.2% during the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 13,548 shares of the software maker’s stock worth $2,306,000 after acquiring an additional 1,891 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the 1st quarter worth $1,302,000. Finally, Mogy Joel R Investment Counsel Inc. raised its stake in Intuit by 1.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 68,780 shares of the software maker’s stock worth $11,923,000 after acquiring an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.
In other news, VP Mark J. Flournoy sold 5,513 shares of the business’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $197.16, for a total transaction of $1,086,943.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Scott D. Cook sold 100,000 shares of the business’s stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $196.92, for a total transaction of $19,692,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,277 shares of company stock worth $65,648,052. Company insiders own 5.59% of the company’s stock.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, May 22nd. The software maker reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.68 by $0.14. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.86 billion. Intuit had a net margin of 20.39% and a return on equity of 79.36%. Intuit’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.90 earnings per share. equities analysts anticipate that Intuit Inc. will post 4.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 18th. Stockholders of record on Tuesday, July 10th were paid a dividend of $0.39 per share. The ex-dividend date was Monday, July 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. Intuit’s dividend payout ratio (DPR) is 41.38%.
Several equities research analysts recently commented on the stock. BidaskClub upgraded shares of Intuit from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 19th. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Argus lifted their price target on shares of Intuit from $225.00 to $250.00 in a research note on Tuesday, July 24th. Stifel Nicolaus upgraded shares of Intuit from a “hold” rating to a “buy” rating and lifted their price target for the stock from $197.00 to $240.00 in a research note on Monday, June 18th. Finally, Guggenheim assumed coverage on shares of Intuit in a research note on Tuesday, August 7th. They set a “buy” rating and a $250.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $200.22.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.
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