Koch Industries Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 38,665.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,438,591 shares of the software maker’s stock after purchasing an additional 1,434,880 shares during the period. Intuit accounts for about 0.4% of Koch Industries Inc.’s portfolio, making the stock its 6th biggest position. Koch Industries Inc. owned 0.56% of Intuit worth $1,428,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in INTU. Rafferty Asset Management LLC boosted its position in shares of Intuit by 8.1% during the 1st quarter. Rafferty Asset Management LLC now owns 9,279 shares of the software maker’s stock valued at $1,076,000 after purchasing an additional 696 shares in the last quarter. Credit Agricole S A boosted its holdings in Intuit by 23.8% in the first quarter. Credit Agricole S A now owns 565,942 shares of the software maker’s stock worth $65,643,000 after acquiring an additional 108,685 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Intuit by 7.7% in the first quarter. Van ECK Associates Corp now owns 4,567 shares of the software maker’s stock worth $530,000 after acquiring an additional 327 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Intuit in the first quarter worth approximately $208,000. Finally, FIL Ltd boosted its holdings in Intuit by 125.5% in the first quarter. FIL Ltd now owns 439,992 shares of the software maker’s stock worth $51,035,000 after acquiring an additional 244,884 shares in the last quarter. Institutional investors own 85.97% of the company’s stock.
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Intuit Inc. (NASDAQ INTU) traded up 0.92% during mid-day trading on Friday, reaching $147.97. The company’s stock had a trading volume of 1,175,841 shares. The company has a 50-day moving average price of $143.68 and a 200-day moving average price of $135.12. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $148.42. The firm has a market cap of $37.73 billion, a PE ratio of 39.78 and a beta of 1.15.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. The company had revenue of $842.00 million during the quarter, compared to the consensus estimate of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, equities research analysts expect that Intuit Inc. will post $4.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th were given a dividend of $0.39 per share. The ex-dividend date was Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a yield of 1.05%. Intuit’s payout ratio is currently 41.94%.
In other news, insider Scott D. Cook sold 183,333 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $145.19, for a total transaction of $26,618,118.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 28,048 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $146.19, for a total transaction of $4,100,337.12. Following the sale, the executive vice president now directly owns 28,940 shares of the company’s stock, valued at approximately $4,230,738.60. The disclosure for this sale can be found here. Insiders have sold 1,084,194 shares of company stock valued at $151,162,540 over the last 90 days. 5.70% of the stock is currently owned by insiders.
Several research analysts have issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $132.00 price target on shares of Intuit in a report on Friday, October 6th. Raymond James Financial, Inc. lowered Intuit from a “market perform” rating to an “underperform” rating in a report on Wednesday, September 27th. UBS AG lowered Intuit to an “underperform” rating in a report on Wednesday, September 27th. Wells Fargo & Company upgraded Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price on the stock in a report on Thursday, September 21st. Finally, Argus started coverage on Intuit in a report on Wednesday, September 20th. They issued a “buy” rating and a $165.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $142.74.
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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