Stratos Wealth Partners LTD. Decreases Stake in Intuit Inc. (INTU)
Stratos Wealth Partners LTD. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 5.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,692 shares of the software maker’s stock after selling 105 shares during the period. Stratos Wealth Partners LTD.’s holdings in Intuit were worth $225,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. BlackRock Inc. boosted its position in shares of Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock worth $2,014,036,000 after buying an additional 16,306,976 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Intuit by 2.2% in the first quarter. Vanguard Group Inc. now owns 16,373,494 shares of the software maker’s stock worth $1,899,162,000 after buying an additional 359,330 shares during the last quarter. Morgan Stanley boosted its position in shares of Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after buying an additional 966,936 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Intuit by 5.4% in the first quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after buying an additional 138,184 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Intuit by 7.8% in the first quarter. Geode Capital Management LLC now owns 2,686,750 shares of the software maker’s stock worth $311,244,000 after buying an additional 194,751 shares during the last quarter. 85.57% of the stock is owned by hedge funds and other institutional investors.
Intuit Inc. (NASDAQ:INTU) opened at 136.60 on Friday. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $143.81. The company has a market cap of $35.00 billion, a PE ratio of 39.25 and a beta of 1.15. The stock’s 50 day moving average price is $135.04 and its 200 day moving average price is $127.75.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.03. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the firm posted $3.43 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post $4.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were paid 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 1.00%. Intuit’s dividend payout ratio (DPR) is presently 39.19%.
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A number of research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, May 24th. Credit Suisse Group lifted their price objective on Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, May 25th. Citigroup Inc. cut Intuit from a “buy” rating to a “neutral” rating and cut their price objective for the company from $148.00 to $141.00 in a report on Monday, June 26th. Royal Bank Of Canada lifted their price objective on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. Finally, CIBC lifted their price target on Intuit from $125.00 to $141.00 and gave the company an “outperform” rating in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $135.63.
In other news, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’s stock in a transaction that occurred 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 valued at $21,085,104 in the last three months. Insiders own 5.70% of the company’s stock.
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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