Signaturefd LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,624 shares of the software maker’s stock after buying an additional 74 shares during the quarter. Signaturefd LLC’s holdings in Intuit were worth $424,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in INTU. Financial Advantage Inc. purchased a new position in shares of Intuit in the first quarter worth about $26,000. Financial Gravity Wealth Inc. purchased a new position in shares of Intuit in the first quarter worth about $28,000. Private Ocean LLC purchased a new position in shares of Intuit in the first quarter worth about $28,000. Manchester Financial Inc. purchased a new position in shares of Intuit in the second quarter worth about $30,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Intuit in the second quarter worth about $30,000. Institutional investors own 88.48% of the company’s stock.
Shares of Intuit stock traded up $5.00 on Tuesday, reaching $277.65. The company had a trading volume of 27,128 shares, compared to its average volume of 1,167,056. The business has a 50 day simple moving average of $274.05. The stock has a market cap of $70.57 billion, a price-to-earnings ratio of 61.27, a PEG ratio of 2.78 and a beta of 1.10. Intuit Inc. has a 52-week low of $182.61 and a 52-week high of $284.97. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.10.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, July 9th. Intuit’s dividend payout ratio (DPR) is 41.50%.
INTU has been the topic of several research reports. Morgan Stanley raised their price target on shares of Intuit from $239.00 to $244.00 and gave the stock an “equal weight” rating in a research note on Friday, May 24th. BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 9th. UBS Group lifted their target price on shares of Intuit from $245.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, May 24th. ValuEngine downgraded shares of Intuit from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, KeyCorp lifted their target price on shares of Intuit from $280.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Intuit has a consensus rating of “Buy” and a consensus price target of $254.15.
In related news, Chairman Scott D. Cook sold 103,817 shares of Intuit stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $258.59, for a total value of $26,846,038.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Scott D. Cook sold 29,517 shares of Intuit stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $261.67, for a total transaction of $7,723,713.39. The disclosure for this sale can be found here. Insiders sold a total of 277,296 shares of company stock worth $72,342,898 over the last three months. Insiders own 4.60% of the company’s stock.
Intuit Company Profile
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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