Linscomb & Williams Inc. acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 410 shares of the software maker’s stock, valued at approximately $201,000.
Other hedge funds have also added to or reduced their stakes in the company. Capital Analysts LLC purchased a new position in Intuit during the 1st quarter valued at about $27,000. Solstein Capital LLC acquired a new stake in Intuit in the 1st quarter worth approximately $29,000. Stonebridge Capital Advisors LLC acquired a new stake in Intuit in the 1st quarter worth approximately $32,000. PNC Managed Account Solutions Inc. acquired a new stake in Intuit during the 2nd quarter valued at approximately $55,000. Finally, Center for Financial Planning Inc. acquired a new stake in Intuit during the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 84.42% of the company’s stock.
INTU stock opened at $568.27 on Wednesday. The company’s 50 day moving average price is $536.66 and its 200 day moving average price is $463.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.94 and a current ratio of 1.94. Intuit Inc. has a fifty-two week low of $295.37 and a fifty-two week high of $582.96. The firm has a market capitalization of $155.19 billion, a price-to-earnings ratio of 75.87, a PEG ratio of 4.82 and a beta of 1.03.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 18th. Shareholders of record on Monday, October 11th will be paid a $0.68 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.59. This represents a $2.72 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, October 8th. Intuit’s dividend payout ratio is currently 31.22%.
In other news, CAO Mark J. Flournoy sold 665 shares of the stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $475.27, for a total value of $316,054.55. Following the completion of the sale, the chief accounting officer now directly owns 1,520 shares of the company’s stock, valued at $722,410.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raul Vazquez sold 1,100 shares of the stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $483.08, for a total value of $531,388.00. Following the completion of the sale, the director now directly owns 1,589 shares of the company’s stock, valued at $767,614.12. The disclosure for this sale can be found here. Insiders sold 61,112 shares of company stock worth $34,124,588 over the last quarter. 3.38% of the stock is currently owned by insiders.
INTU has been the subject of several recent analyst reports. Edward Jones initiated coverage on shares of Intuit in a report on Thursday, August 26th. They issued a “hold” rating for the company. Zacks Investment Research cut shares of Intuit from a “hold” rating to a “strong sell” rating and set a $481.00 price target on the stock. in a research report on Monday, August 30th. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $530.00 to $630.00 and gave the company an “overweight” rating in a research report on Wednesday, August 25th. Morgan Stanley boosted their price target on shares of Intuit from $511.00 to $615.00 and gave the company an “overweight” rating in a research report on Wednesday, August 25th. Finally, Wells Fargo & Company boosted their price target on shares of Intuit from $510.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, August 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Buy” and a consensus target price of $544.55.
Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
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