Franklin Resources Inc. grew its position in Intuit Inc. (NASDAQ:INTU) by 7.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,382,666 shares of the software maker’s stock after buying an additional 95,897 shares during the period. Franklin Resources Inc. owned 0.54% of Intuit worth $183,631,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America raised its position in Intuit by 0.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Intuit during the 2nd quarter worth approximately $123,000. Johnson Financial Group Inc. raised its position in Intuit by 5.8% during the 1st quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares during the last quarter. Lincoln National Corp purchased a new position in Intuit during the 1st quarter worth approximately $205,000. Finally, Pax World Management LLC purchased a new position in shares of Intuit during the 1st quarter valued at approximately $205,000. Institutional investors own 86.05% of the company’s stock.
Several equities research analysts recently commented on the stock. Moffett Nathanson began coverage on shares of Intuit in a research note on Thursday, September 7th. They set a “buy” rating and a $150.00 target price on the stock. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research report on Monday, August 28th. Jefferies Group LLC assumed coverage on shares of Intuit in a research report on Thursday, August 24th. They set a “buy” rating and a $157.00 price target on the stock. Oppenheimer Holdings, Inc. upped their target price on shares of Intuit from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $141.00 target price on shares of Intuit in a research report on Thursday, August 24th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $140.24.
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Intuit Inc. (NASDAQ:INTU) opened at 142.13 on Friday. The firm has a 50-day moving average price of $138.38 and a 200 day moving average price of $131.17. The stock has a market cap of $36.24 billion, a PE ratio of 38.21 and a beta of 1.15. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $143.81.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The business had revenue of $842.00 million for the quarter, compared to analyst estimates of $808.82 million. During the same period last year, the company earned $0.08 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio (DPR) is presently 36.56%.
In related news, Chairman Scott D. Cook sold 182,037 shares of Intuit stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $135.20, for a total value of $24,611,402.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Mark J. Flournoy sold 1,868 shares of Intuit stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $142.31, for a total value of $265,835.08. Following the transaction, the vice president now owns 1,713 shares of the company’s stock, valued at approximately $243,777.03. The disclosure for this sale can be found here. Insiders have sold a total of 888,585 shares of company stock worth $122,643,706 in the last ninety days. 5.70% of the stock is currently owned by company insiders.
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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