B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 55.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,952 shares of the software maker’s stock after selling 2,454 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Intuit were worth $399,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of INTU. Fort L.P. purchased a new stake in Intuit in the 2nd quarter worth approximately $120,000. Sun Life Financial INC grew its stake in Intuit by 243.8% in the 2nd quarter. Sun Life Financial INC now owns 660 shares of the software maker’s stock worth $135,000 after acquiring an additional 468 shares during the period. Resources Investment Advisors Inc. grew its stake in Intuit by 158.9% in the 1st quarter. Resources Investment Advisors Inc. now owns 906 shares of the software maker’s stock worth $174,000 after acquiring an additional 556 shares during the period. Cerebellum GP LLC purchased a new stake in Intuit in the 2nd quarter worth approximately $176,000. Finally, NewSquare Capital LLC purchased a new stake in Intuit in the 2nd quarter worth approximately $185,000. 87.02% of the stock is owned by institutional investors and hedge funds.
NASDAQ:INTU opened at $227.54 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.16. The firm has a market cap of $58.38 billion, a P/E ratio of 50.23, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21. Intuit Inc. has a twelve month low of $140.21 and a twelve month high of $229.86.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Wednesday, October 10th will be issued a dividend of $0.47 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.83%. Intuit’s payout ratio is presently 34.44%.
Several analysts have commented on INTU shares. BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Credit Suisse Group lifted their price target on shares of Intuit from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, August 24th. Stifel Nicolaus upgraded shares of Intuit from a “hold” rating to a “buy” rating and lifted their price target for the company from $197.00 to $240.00 in a report on Monday, June 18th. Wells Fargo & Co set a $215.00 price target on shares of Intuit and gave the company an “outperform” rating in a report on Wednesday, May 23rd. Finally, Guggenheim initiated coverage on shares of Intuit in a report on Tuesday, August 7th. They issued a “buy” rating and a $250.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Intuit presently has an average rating of “Buy” and a consensus target price of $216.94.
In related news, EVP Henry Tayloe Stansbury sold 3,941 shares of Intuit stock in a transaction on Monday, June 25th. The shares were sold at an average price of $202.21, for a total transaction of $796,909.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Scott D. Cook sold 100,000 shares of Intuit stock in a transaction on Friday, September 7th. The shares were sold at an average price of $220.30, for a total transaction of $22,030,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 368,201 shares of company stock worth $78,754,509 in the last 90 days. Company insiders own 5.59% of the company’s stock.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.
Featured Story: Return on Equity (ROE)
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.