Financial Advisors Network Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,502 shares of the software maker’s stock after selling 531 shares during the quarter. Intuit makes up 0.8% of Financial Advisors Network Inc.’s holdings, making the stock its 25th largest holding. Financial Advisors Network Inc.’s holdings in Intuit were worth $1,347,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Advantage Inc. bought a new position in shares of Intuit during the 1st quarter worth $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 in the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Intuit during the 1st quarter worth $28,000. Private Ocean LLC bought a new position in shares of Intuit during the 1st quarter worth $28,000. Finally, Thor Advisors LLC bought a new position in shares of Intuit during the 1st quarter worth $33,000. 87.97% of the stock is currently owned by institutional investors and hedge funds.
INTU stock traded down $3.06 during trading on Friday, reaching $254.13. 1,232,060 shares of the company traded hands, compared to its average volume of 1,363,161. Intuit Inc. has a 12 month low of $182.61 and a 12 month high of $272.14. The company has a market cap of $65.88 billion, a P/E ratio of 56.10, a PEG ratio of 2.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.85 and a quick ratio of 1.85.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.43. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period last year, the business posted $4.82 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Intuit Inc. will post 5.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, July 9th. Intuit’s dividend payout ratio (DPR) is presently 41.50%.
In other Intuit news, Chairman Scott D. Cook sold 29,517 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $261.67, for a total value of $7,723,713.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Scott D. Cook sold 103,817 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $258.59, for a total value of $26,846,038.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,962 shares of company stock valued at $37,293,389. 4.60% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on INTU. KeyCorp increased their price target 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 increased their price target 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 initiated coverage on Intuit in a research report on Friday, March 29th. They set an “underperform” rating and a $200.00 price objective on the stock. BidaskClub downgraded Intuit from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 9th. Finally, BNP Paribas initiated coverage on Intuit in a research report on Friday, March 29th. They set an “underperform” rating and a $200.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Intuit currently has a consensus rating of “Buy” and an average target price of $252.55.
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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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