SG Americas Securities LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 69.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,600 shares of the software maker’s stock after selling 49,171 shares during the quarter. SG Americas Securities LLC’s holdings in Intuit were worth $5,744,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC boosted its position in shares of Intuit by 4,951.7% during the second quarter. Nuveen Asset Management LLC now owns 4,988,508 shares of the software maker’s stock worth $1,303,647,000 after buying an additional 4,889,759 shares during the period. Invesco Ltd. grew its stake in shares of Intuit by 96.3% during the 2nd quarter. Invesco Ltd. now owns 6,001,471 shares of the software maker’s stock worth $1,568,367,000 after acquiring an additional 2,944,291 shares in the last quarter. Janus Henderson Group PLC raised its holdings 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 valued at $1,241,949,000 after purchasing an additional 1,060,033 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Intuit by 38.0% in the second quarter. JPMorgan Chase & Co. now owns 2,812,304 shares of the software maker’s stock valued at $725,545,000 after purchasing an additional 774,853 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Intuit by 2.5% in the second quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock worth $5,401,090,000 after purchasing an additional 503,291 shares in the last quarter. 86.74% of the stock is owned by institutional investors.
INTU opened at $256.55 on Tuesday. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $295.77. The business has a 50 day moving average of $261.11 and a 200-day moving average of $266.23. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.18. The stock has a market cap of $67.39 billion, a price-to-earnings ratio of 45.98, a PEG ratio of 2.62 and a beta of 1.08.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Friday, January 10th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is 37.99%.
A number of equities analysts have recently commented on the stock. UBS Group increased their price objective on shares of Intuit from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Bank of America upped their target price on Intuit from $264.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Argus set a $325.00 price target on Intuit and gave the company a “buy” rating in a research report on Monday, August 26th. Stifel Nicolaus boosted their price target on Intuit from $290.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, BidaskClub upgraded Intuit from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $277.58.
In other news, CFO Michelle M. Clatterbuck sold 3,855 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $285.62, for a total value of $1,101,065.10. Following the transaction, the chief financial officer now owns 1,492 shares of the company’s stock, valued at $426,145.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gregory N. Johnson sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $290.74, for a total transaction of $726,850.00. Following the transaction, the executive vice president now directly owns 11,625 shares in the company, valued at $3,379,852.50. The disclosure for this sale can be found here. Insiders have sold a total of 596,822 shares of company stock valued at $148,211,807 in the last ninety days. 4.09% of the stock is currently owned by insiders.
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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