Novare Capital Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,879 shares of the software maker’s stock after selling 225 shares during the period. Novare Capital Management LLC’s holdings in Intuit were worth $1,610,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its stake in Intuit by 253.4% in the first quarter. BNP Paribas Arbitrage SA now owns 264,669 shares of the software maker’s stock worth $30,699,000 after buying an additional 189,778 shares during the last quarter. Suntrust Banks Inc. boosted its stake in shares of Intuit by 18.8% in the first quarter. Suntrust Banks Inc. now owns 46,298 shares of the software maker’s stock valued at $5,368,000 after buying an additional 7,339 shares in the last quarter. Davis R M Inc. boosted its stake in shares of Intuit by 0.5% in the first quarter. Davis R M Inc. now owns 272,672 shares of the software maker’s stock valued at $31,627,000 after buying an additional 1,351 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Intuit by 4.3% in the first quarter. Checchi Capital Advisers LLC now owns 3,383 shares of the software maker’s stock valued at $392,000 after buying an additional 140 shares in the last quarter. Finally, Princeton Alpha Management LP purchased a new stake in shares of Intuit during the first quarter valued at $2,101,000. 85.77% of the stock is owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 142.65 on Tuesday. The firm has a market cap of $36.55 billion, a PE ratio of 40.99 and a beta of 1.06. Intuit Inc. has a 52 week low of $103.03 and a 52 week high of $143.46. The firm has a 50-day moving average of $127.72 and a 200 day moving average of $120.95.
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 company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.50 billion. Intuit had a net margin of 20.59% and a return on equity of 82.77%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $3.43 earnings per share. Equities research analysts predict that Intuit Inc. will post $4.39 EPS for the current fiscal year. The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th will be issued a $0.34 dividend. The ex-dividend date is Thursday, July 6th. This represents a $1.36 annualized dividend and a yield of 0.95%. Intuit’s dividend payout ratio (DPR) is presently 36.27%.
Several analysts have recently commented on the stock. Barclays PLC reissued an “equal weight” rating and set a $129.00 price target on shares of Intuit in a research note on Monday, April 3rd. Benchmark Co. assumed coverage on shares of Intuit in a report on Thursday, April 27th. They issued a “buy” rating and a $140.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $111.00 price objective (up from $108.00) on shares of Intuit in a report on Friday, February 24th. Zacks Investment Research upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Monday, February 13th. Finally, Credit Suisse Group AG upgraded shares of Intuit from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $109.00 to $140.00 in a report on Friday, February 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $203.97. In other news, EVP Henry Tayloe Stansbury sold 39,230 shares of the stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $140.25, for a total transaction of $5,502,007.50. Following the completion of the sale, the executive vice president now owns 40,068 shares of the company’s stock, valued at $5,619,537. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dennis D. Powell sold 16,686 shares of the 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 sale, the director now directly owns 4,554 shares of the company’s stock, valued at approximately $623,078.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,581 shares of company stock worth $18,850,556. Company insiders own 5.70% of the company’s stock.
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