TLP Group LLC Buys New Position in Intuit Inc. (INTU)
TLP Group LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,945 shares of the software maker’s stock, valued at approximately $258,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in shares of Intuit in the 2nd quarter valued at approximately $108,000. Shine Investment Advisory Services Inc. purchased a new position in shares of Intuit in the 2nd quarter valued at approximately $123,000. Guardian Life Insurance Co. of America lifted its stake in shares of Intuit by 0.5% in the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after purchasing an additional 5 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Intuit in the 2nd quarter valued at approximately $140,000. Finally, Johnson Financial Group Inc. lifted its stake in shares of Intuit by 5.8% in the 1st quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after purchasing an additional 59 shares during the period. Institutional investors own 85.96% of the company’s stock.
A number of research analysts have recently commented on the company. Wells Fargo & Company upgraded Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price for the company in a research note on Thursday. Argus assumed coverage on Intuit in a research note on Wednesday, September 20th. They issued a “buy” rating and a $165.00 target price for the company. William Blair assumed coverage on Intuit in a research note on Tuesday, September 19th. They issued an “outperform” rating for the company. Moffett Nathanson assumed coverage on Intuit in a research note on Thursday, September 7th. They issued a “buy” rating and a $150.00 target price for the company. Finally, Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research note on Monday, August 28th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Intuit has a consensus rating of “Buy” and an average target price of $142.74.
Shares of Intuit Inc. (INTU) opened at 145.04 on Monday. The firm has a 50 day moving average price of $138.84 and a 200-day moving average price of $131.54. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $146.72. The company has a market cap of $36.98 billion, a price-to-earnings ratio of 38.99 and a beta of 1.15.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The firm had revenue of $842.00 million during the quarter, compared to analyst estimates of $808.82 million. During the same quarter in the prior year, the business posted $0.08 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post $4.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio is currently 36.56%.
In other news, VP Mark J. Flournoy sold 1,868 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $142.31, for a total transaction of $265,835.08. Following the completion of the sale, the vice president now owns 1,713 shares in the company, valued at approximately $243,777.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the 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. In the last quarter, insiders have sold 1,056,234 shares of company stock valued at $147,058,222. Company insiders own 5.70% of the company’s stock.
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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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