Allen Investment Management LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,354 shares of the software maker’s stock after acquiring an additional 714 shares during the quarter. Allen Investment Management LLC’s holdings in Intuit were worth $23,892,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at $35,000. Trifecta Capital Advisors LLC raised its position in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after purchasing an additional 35 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in Intuit in the second quarter worth $39,000. 83.66% of the stock is owned by institutional investors.
Insider Transactions at Intuit
In related news, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now owns 1,020 shares in the company, valued at $664,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Insiders sold 16,940 shares of company stock valued at $10,721,252 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on Intuit
Intuit Stock Performance
Shares of INTU opened at $655.31 on Friday. The firm’s 50 day moving average price is $636.63 and its two-hundred day moving average price is $632.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The firm has a market cap of $183.68 billion, a P/E ratio of 60.45, a PEG ratio of 3.14 and a beta of 1.24.
Intuit (NASDAQ:INTU – Get Free Report) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. On average, analysts forecast that Intuit Inc. will post 14.06 EPS for the current fiscal year.
Intuit Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.63%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 33.21%.
About Intuit
Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.
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