Intuit Inc. (INTU) Stake Held by Gofen & Glossberg LLC IL
Gofen & Glossberg LLC IL held its position in shares of Intuit Inc. (NASDAQ:INTU) during the first quarter, Holdings Channel reports. The firm owned 1,967 shares of the software maker’s stock at the end of the first quarter. Gofen & Glossberg LLC IL’s holdings in Intuit were worth $228,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in INTU. Flinton Capital Management LLC boosted its position in shares of Intuit by 39.0% in the first quarter. Flinton Capital Management LLC now owns 9,576 shares of the software maker’s stock valued at $1,111,000 after buying an additional 2,688 shares during the last quarter. Cutler Group LP boosted its position in shares of Intuit by 104.4% in the first quarter. Cutler Group LP now owns 3,286 shares of the software maker’s stock valued at $381,000 after buying an additional 1,678 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Intuit by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 718,580 shares of the software maker’s stock valued at $83,348,000 after buying an additional 7,343 shares during the last quarter. Whittier Trust Co. boosted its position in shares of Intuit by 5.2% in the first quarter. Whittier Trust Co. now owns 2,903 shares of the software maker’s stock valued at $337,000 after buying an additional 143 shares during the last quarter. Finally, Shell Asset Management Co. boosted its position in shares of Intuit by 3.8% in the first quarter. Shell Asset Management Co. now owns 46,600 shares of the software maker’s stock valued at $5,405,000 after buying an additional 1,710 shares during the last quarter. 85.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) traded down 0.36% on Friday, hitting $139.49. 1,920,789 shares of the stock traded hands. Intuit Inc. has a 52-week low of $103.03 and a 52-week high of $143.81. The stock’s 50 day moving average price is $133.23 and its 200 day moving average price is $122.45. The stock has a market cap of $35.74 billion, a P/E ratio of 40.08 and a beta of 1.14.
Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 17.82% and a return on equity of 80.88%. Intuit’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the business earned $3.43 EPS. On average, equities analysts expect that Intuit Inc. will post $4.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Investors of record on Monday, July 10th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, July 6th. Intuit’s dividend payout ratio (DPR) is presently 39.19%.
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INTU has been the subject of several analyst reports. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $127.00 price target (up previously from $124.00) on shares of Intuit in a research report on Monday, February 27th. Credit Suisse Group upgraded shares of Intuit from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $109.00 to $140.00 in a research report on Friday, February 24th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $111.00 price target (up previously from $108.00) on shares of Intuit in a research report on Friday, February 24th. Finally, Barclays PLC reiterated a “hold” rating and set a $130.00 price target on shares of Intuit in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $203.97.
In related news, EVP Henry Tayloe Stansbury sold 39,230 shares of Intuit stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $140.25, for a total value of $5,502,007.50. Following the completion of the sale, the executive vice president now directly owns 40,068 shares in the company, valued at approximately $5,619,537. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 74,052 shares of Intuit stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total transaction of $10,327,291.92. The disclosure for this sale can be found here. Insiders sold a total of 135,581 shares of company stock valued at $18,850,556 over the last quarter. 5.70% of the stock is owned by company 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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