Tocqueville Asset Management L.P. cut its position in Intuit Inc. (NASDAQ:INTU) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,302 shares of the software maker’s stock after selling 1,036 shares during the period. Tocqueville Asset Management L.P.’s holdings in Intuit were worth $13,407,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its stake in shares of Intuit by 28.7% in the second quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock worth $1,241,949,000 after acquiring an additional 1,060,033 shares during the last quarter. Signaturefd LLC raised its stake in shares of Intuit by 4.8% during the second quarter. Signaturefd LLC now owns 1,624 shares of the software maker’s stock worth $424,000 after buying an additional 74 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Intuit by 0.3% during the second quarter. Royal London Asset Management Ltd. now owns 97,886 shares of the software maker’s stock worth $25,580,000 after buying an additional 272 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Intuit by 11.4% during the second quarter. Sequoia Financial Advisors LLC now owns 1,370 shares of the software maker’s stock worth $358,000 after buying an additional 140 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of Intuit by 4.9% during the second quarter. Aperio Group LLC now owns 259,963 shares of the software maker’s stock worth $67,936,000 after buying an additional 12,035 shares during the last quarter. Hedge funds and other institutional investors own 88.48% of the company’s stock.
Shares of INTU traded up $5.00 during mid-day trading 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’s 50 day moving average price is $274.05. Intuit Inc. has a 1-year low of $182.61 and a 1-year high of $284.97. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.10. The company has a market cap of $70.57 billion, a P/E ratio of 61.27, a price-to-earnings-growth ratio of 2.78 and a beta of 1.10.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.88 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio is presently 41.50%.
In related news, Chairman Scott D. Cook sold 133,334 shares of Intuit stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $262.87, for a total transaction of $35,049,508.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the sale, the chief financial officer now owns 10,628 shares in the company, valued at $2,723,637.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,296 shares of company stock worth $72,342,898. 4.60% of the stock is owned by corporate insiders.
A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of Intuit from $225.00 to $237.00 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. ValuEngine downgraded shares of Intuit from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research downgraded shares of Intuit from a “buy” rating to a “hold” rating and set a $268.00 price target for the company. in a research note on Wednesday, May 29th. Finally, Stifel Nicolaus upped their target price on shares of Intuit from $258.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $254.15.
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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