Intuit Inc. (INTU) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 414,737 shares of the software maker’s stock after buying an additional 4,704 shares during the period. Rhumbline Advisers owned approximately 0.16% of Intuit worth $55,081,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake 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 valued at $2,014,036,000 after buying an additional 16,306,976 shares during the period. Morgan Stanley raised its stake 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 valued at $403,505,000 after buying an additional 966,936 shares during the period. Renaissance Technologies LLC raised its stake in shares of Intuit by 249.1% in the first quarter. Renaissance Technologies LLC now owns 1,296,148 shares of the software maker’s stock valued at $150,340,000 after buying an additional 924,900 shares during the period. Harbour Capital Advisors LLC raised its stake in shares of Intuit by 21,749.4% in the second quarter. Harbour Capital Advisors LLC now owns 887,304 shares of the software maker’s stock valued at $6,681,000 after buying an additional 883,243 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of Intuit during the first quarter valued at $99,589,000. Institutional investors and hedge funds own 85.57% of the company’s stock.

Intuit Inc. (NASDAQ:INTU) traded up 0.08% on Friday, reaching $135.27. The company had a trading volume of 48,733 shares. The stock has a market capitalization of $34.66 billion, a price-to-earnings ratio of 38.87 and a beta of 1.15. The firm has a 50 day moving average price of $135.14 and a 200-day moving average price of $127.61. Intuit Inc. has a 12 month low of $103.22 and a 12 month high of $143.81.

Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.87 by $0.03. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.50 billion. Intuit had a return on equity of 80.88% and a net margin of 17.82%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.43 earnings per share. Analysts forecast that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.36 annualized dividend and a yield of 1.01%. Intuit’s dividend payout ratio is presently 39.19%.

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Several analysts have recently weighed in on INTU shares. Citigroup Inc. upped their price objective on Intuit from $128.00 to $148.00 and gave the company a “buy” rating in a report on Thursday, May 25th. Benchmark Co. assumed coverage on Intuit in a research report on Thursday, April 27th. They set a “buy” rating and a $140.00 target price on the stock. Deutsche Bank AG boosted their target price on Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Bank of America Corporation boosted their target price on Intuit from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Credit Suisse Group boosted their target price on Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $135.63.

In other Intuit news, Director Dennis D. Powell sold 16,686 shares of Intuit stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $136.82, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,265 shares of company stock worth $21,085,104. Corporate 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.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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