Bank of Montreal Can raised its stake in Intuit Inc. (NASDAQ:INTU) by 71.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 471,620 shares of the software maker’s stock after purchasing an additional 196,911 shares during the period. Bank of Montreal Can owned approximately 0.18% of Intuit worth $74,412,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Exane Derivatives acquired a new position in shares of Intuit in the 3rd quarter valued at $105,000. Horan Capital Advisors LLC. acquired a new position in shares of Intuit in the 3rd quarter valued at $114,000. ETF Managers Group LLC acquired a new position in shares of Intuit in the 2nd quarter valued at $140,000. Highstreet Asset Management Inc. acquired a new position in shares of Intuit in the 3rd quarter valued at $159,000. Finally, BB&T Investment Services Inc. acquired a new position in shares of Intuit in the 2nd quarter valued at $160,000. 86.03% of the stock is owned by hedge funds and other institutional investors.
In other Intuit news, Chairman Scott D. Cook sold 112,731 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $160.97, for a total transaction of $18,146,309.07. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.35, for a total transaction of $326,613.30. Following the sale, the executive vice president now directly owns 3,050 shares in the company, valued at approximately $461,617.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 965,938 shares of company stock worth $149,469,127. Insiders own 5.59% of the company’s stock.
Shares of Intuit Inc. (NASDAQ INTU) opened at $164.40 on Friday. The stock has a market cap of $42,030.00, a PE ratio of 43.49, a P/E/G ratio of 2.92 and a beta of 1.18. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1 year low of $111.90 and a 1 year high of $166.49.
Intuit (NASDAQ:INTU) last announced its earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The business had revenue of $886.00 million during the quarter, compared to analysts’ expectations of $855.74 million. During the same quarter last year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. analysts expect that Intuit Inc. will post 3.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Wednesday, January 10th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Tuesday, January 9th. Intuit’s dividend payout ratio is currently 41.27%.
A number of equities analysts have recently issued reports on the stock. Credit Suisse Group restated an “outperform” rating and issued a $185.00 price objective (up previously from $170.00) on shares of Intuit in a research note on Tuesday, January 9th. Deutsche Bank restated a “buy” rating and issued a $180.00 price objective on shares of Intuit in a research note on Tuesday, January 9th. JPMorgan Chase & Co. increased their price objective on shares of Intuit to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 4th. Wells Fargo & Co restated an “outperform” rating and issued a $180.00 price objective (up previously from $163.00) on shares of Intuit in a research note on Tuesday, November 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $148.00 target price on shares of Intuit in a research report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $157.53.
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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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