Tiemann Investment Advisors LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.9% in the 1st quarter, Holdings Channel reports. The firm owned 2,017 shares of the software maker’s stock after buying an additional 75 shares during the quarter. Tiemann Investment Advisors LLC’s holdings in Intuit were worth $527,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Financial Advantage Inc. acquired a new position in shares of Intuit during the 1st quarter worth about $26,000. CX Institutional grew its position in shares of Intuit by 85.5% during the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock worth $27,000 after buying an additional 47 shares during the period. Athena Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter worth about $28,000. Financial Gravity Wealth Inc. acquired a new position in shares of Intuit during the 1st quarter worth about $28,000. Finally, Private Ocean LLC acquired a new position in shares of Intuit during the 1st quarter worth about $28,000. 87.97% of the stock is owned by hedge funds and other institutional investors.
In other Intuit news, CFO Michelle M. Clatterbuck sold 10,628 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the completion of the transaction, the chief financial officer now owns 10,628 shares of the company’s stock, valued at approximately $2,723,637.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Scott D. Cook sold 29,517 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $261.67, for a total value of $7,723,713.39. The disclosure for this sale can be found here. Insiders sold a total of 143,962 shares of company stock valued at $37,293,389 over the last quarter. 4.60% of the stock is owned by insiders.
Shares of INTU traded down $2.24 on Friday, hitting $254.95. The company’s stock had a trading volume of 21,034 shares, compared to its average volume of 1,327,571. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.85 and a current ratio of 1.85. Intuit Inc. has a fifty-two week low of $182.61 and a fifty-two week high of $272.14. The firm has a market capitalization of $66.67 billion, a PE ratio of 56.27, a P/E/G ratio of 2.92 and a beta of 1.10.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.12 by $0.43. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the firm earned $4.82 EPS. Intuit’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Intuit Inc. will post 5.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a $0.47 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.74%. Intuit’s dividend payout ratio is presently 41.50%.
Several research firms have recently issued reports on INTU. KeyCorp boosted their target price on Intuit from $255.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada boosted their target price on Intuit from $274.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Exane BNP Paribas began coverage on Intuit in a research report on Friday, March 29th. They set an “underperform” rating and a $200.00 target price for the company. BidaskClub lowered Intuit from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 9th. Finally, BNP Paribas began coverage on Intuit in a research report on Friday, March 29th. They set an “underperform” rating and a $200.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Intuit has a consensus rating of “Buy” and a consensus price target of $252.55.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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