Cohen Klingenstein LLC held its position in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,600 shares of the software maker’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in Intuit were worth $2,736,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its position in shares of 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 in the last quarter. Johnson Financial Group Inc. raised 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 in the last quarter. Miller Howard Investments Inc. NY bought a new position in shares of Intuit during the first quarter worth $205,000. Lincoln National Corp bought a new position in shares of Intuit during the first quarter worth $205,000. Finally, Pax World Management LLC bought a new position in shares of Intuit during the first quarter worth $205,000. Institutional investors and hedge funds own 85.23% of the company’s stock.
Intuit Inc. (INTU) traded up 0.14% during midday trading on Monday, reaching $133.07. 1,011,286 shares of the company were exchanged. The firm’s 50 day moving average price is $136.36 and its 200-day moving average price is $123.95. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81. The stock has a market capitalization of $34.09 billion, a P/E ratio of 38.24 and a beta of 1.15.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company posted $3.43 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post $4.39 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, July 6th. This represents a $1.36 annualized dividend and a yield of 1.02%. Intuit’s dividend payout ratio (DPR) is presently 39.19%.
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A number of equities analysts recently weighed in on INTU shares. Stifel Nicolaus upped their target price on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Citigroup Inc. lowered shares of Intuit from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $148.00 to $141.00 in a research report on Monday, June 26th. Deutsche Bank AG upped their target price on shares of Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Royal Bank Of Canada upped their target price on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Intuit currently has an average rating of “Buy” and an average price target of $199.55.
In other Intuit news, Director Dennis D. Powell sold 16,686 shares of Intuit stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $136.82, for a total transaction of $2,282,978.52. Following the sale, the director now owns 4,554 shares of the company’s stock, valued at approximately $623,078.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Henry Tayloe Stansbury sold 3,742 shares of Intuit stock in a transaction on Friday, May 26th. The stock was sold at an average price of $137.92, for a total transaction of $516,096.64. Following the sale, the executive vice president now directly owns 4,580 shares in the company, valued at approximately $631,673.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,265 shares of company stock worth $21,085,104. 5.70% of the stock is currently owned by corporate insiders.
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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