Intuit Inc. (NASDAQ:INTU) Stake Increased by Capital One National Association
Capital One National Association increased its position in Intuit Inc. (NASDAQ:INTU) by 29.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,616 shares of the software maker’s stock after buying an additional 589 shares during the period. Capital One National Association’s holdings in Intuit were worth $347,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its stake in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the last quarter. Johnson Financial Group Inc. increased its position in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares during the period. Formidable Asset Management LLC acquired a new position in shares of Intuit during the first quarter worth about $208,000. Lincoln National Corp acquired a new position in shares of Intuit during the first quarter worth about $205,000. Finally, Miller Howard Investments Inc. NY acquired a new position in shares of Intuit during the first quarter worth about $205,000. 85.23% of the stock is owned by institutional investors.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 132.88 on Monday. The firm’s 50-day moving average price is $136.36 and its 200-day moving average price is $123.95. The firm has a market cap of $34.05 billion, a PE ratio of 38.18 and a beta of 1.15. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.87 by $0.03. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.43 earnings per share. Equities research analysts expect that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.36 annualized dividend and a dividend yield of 1.02%. Intuit’s dividend payout ratio is currently 39.19%.
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A number of equities analysts have recently issued reports on the company. CIBC increased their target price on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, May 26th. Barclays PLC cut their target price on Intuit from $129.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, April 24th. Credit Suisse Group increased their target price on Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Monday, May 29th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $141.00 target price (up from $125.00) on shares of Intuit in a research note on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $199.55.
In other Intuit news, EVP Daniel A. Wernikoff sold 15,684 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total value of $2,203,602.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock worth $21,085,104 in the last ninety days. 5.70% of the stock is owned by corporate insiders.
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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