MetLife Investment Advisors LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, Holdings Channel reports. The firm acquired 75,145 shares of the software maker’s stock, valued at approximately $11,856,000.
A number of other institutional investors have also recently made changes to their positions in INTU. APG Asset Management N.V. raised its stake in Intuit by 102.0% in the 4th quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock valued at $215,555,000 after acquiring an additional 828,387 shares during the period. BlackRock Inc. raised its stake in Intuit by 3.0% in the 4th quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock valued at $2,669,740,000 after acquiring an additional 486,554 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in Intuit by 272.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 466,060 shares of the software maker’s stock valued at $73,535,000 after acquiring an additional 340,871 shares during the period. Atlanta Capital Management Co. L L C raised its stake in Intuit by 142.3% in the 3rd quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock valued at $71,764,000 after acquiring an additional 296,481 shares during the period. Finally, Element Capital Management LLC bought a new stake in Intuit in the 4th quarter valued at about $43,444,000. Institutional investors and hedge funds own 87.14% of the company’s stock.
INTU has been the topic of several analyst reports. Citigroup upped their price target on Intuit to $170.00 in a research report on Tuesday, November 21st. JPMorgan Chase & Co. upped their price target on Intuit to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 4th. Deutsche Bank reiterated a “buy” rating and set a $180.00 price target on shares of Intuit in a research report on Tuesday, January 9th. Zacks Investment Research cut Intuit from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. Finally, Oppenheimer reiterated a “buy” rating and set a $166.00 price target (up from $159.00) on shares of Intuit in a research report on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $167.05.
INTU stock opened at $178.15 on Wednesday. Intuit Inc. has a twelve month low of $114.80 and a twelve month high of $179.30. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $45,008.97, a PE ratio of 46.86, a PEG ratio of 2.67 and a beta of 1.15.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Intuit had a return on equity of 72.52% and a net margin of 17.48%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Intuit’s revenue was up 14.7% on a year-over-year basis. research analysts forecast that Intuit Inc. will post 4.28 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Tuesday, April 10th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, April 9th. Intuit’s dividend payout ratio is currently 42.86%.
In other Intuit news, EVP Henry Tayloe Stansbury sold 2,158 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $158.94, for a total value of $342,992.52. Following the completion of the sale, the executive vice president now owns 3,050 shares of the company’s stock, valued at $484,767. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Scott D. Cook sold 184,733 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $158.98, for a total value of $29,368,852.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,036,700 shares of company stock valued at $177,597,045. 5.59% of the stock is owned by insiders.
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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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