Osborne Partners Capital Management LLC held its stake in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,100 shares of the software maker’s stock at the end of the second quarter. Osborne Partners Capital Management LLC’s holdings in Intuit were worth $2,005,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in 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 in the last quarter. Morgan Stanley increased its stake in 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 last quarter. Renaissance Technologies LLC increased its stake in 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 last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Intuit during the first quarter valued at about $99,589,000. Finally, Marshall Wace North America L.P. acquired a new stake in Intuit during the first quarter valued at about $99,589,000. Institutional investors own 85.57% of the company’s stock.
Shares of Intuit Inc. (INTU) opened at 136.60 on Friday. The company has a market capitalization of $35.00 billion, a PE ratio of 39.25 and a beta of 1.15. The company has a 50-day moving average price of $135.04 and a 200-day moving average price of $127.75. Intuit Inc. has a 52 week low of $103.22 and a 52 week 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 (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.03. The company had revenue of $2.54 billion during 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 quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.43 earnings per share. Analysts predict that Intuit Inc. will post $4.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were paid 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 1.00%. Intuit’s dividend payout ratio (DPR) is 39.19%.
Several analysts recently issued reports on the stock. Credit Suisse Group lifted their price target on shares of Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Stifel Nicolaus lifted their price target on shares of Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, May 24th. Citigroup Inc. downgraded shares of Intuit from a “buy” rating to a “neutral” rating and reduced their price target for the company from $148.00 to $141.00 in a research report on Monday, June 26th. Royal Bank Of Canada lifted their price objective on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 24th. Finally, CIBC lifted their price objective on shares of Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Intuit currently has a consensus rating of “Buy” and an average price target of $135.63.
In other news, Director Dennis D. Powell sold 16,686 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $136.82, for a total transaction of $2,282,978.52. Following the completion of the transaction, the director now directly owns 4,554 shares in the company, valued at $623,078.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was 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 three months, insiders have sold 151,265 shares of company stock valued at $21,085,104. 5.70% of the stock is owned by 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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