Franklin Resources Inc. increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,421,635 shares of the software maker’s stock after purchasing an additional 25,601 shares during the quarter. Franklin Resources Inc. owned approximately 0.56% of Intuit worth $224,306,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in INTU. APG Asset Management N.V. boosted its holdings in Intuit by 102.0% during the fourth quarter. APG Asset Management N.V. now owns 1,640,506 shares of the software maker’s stock worth $215,555,000 after purchasing an additional 828,387 shares during the last quarter. BlackRock Inc. boosted its holdings in Intuit by 3.0% during the fourth quarter. BlackRock Inc. now owns 16,920,632 shares of the software maker’s stock worth $2,669,740,000 after purchasing an additional 486,554 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Intuit by 272.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 466,060 shares of the software maker’s stock worth $73,535,000 after purchasing an additional 340,871 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its holdings in Intuit by 142.3% during the third quarter. Atlanta Capital Management Co. L L C now owns 504,885 shares of the software maker’s stock worth $71,764,000 after purchasing an additional 296,481 shares during the last quarter. Finally, Investec Asset Management LTD boosted its holdings in Intuit by 35.3% during the third quarter. Investec Asset Management LTD now owns 952,772 shares of the software maker’s stock worth $135,427,000 after purchasing an additional 248,408 shares during the last quarter. Institutional investors and hedge funds own 87.15% of the company’s stock.
Several research firms recently weighed in on INTU. Bank of America boosted their price target on shares of Intuit from $172.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Barclays restated an “equal weight” rating and set a $170.00 price target (up from $168.00) on shares of Intuit in a report on Friday, February 23rd. Stifel Nicolaus boosted their price target on shares of Intuit from $148.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. UBS Group reiterated a “neutral” rating and issued a $177.00 target price (up from $170.00) on shares of Intuit in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $182.00 target price on shares of Intuit in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. Intuit has an average rating of “Hold” and an average target price of $166.53.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Intuit had a net margin of 17.48% and a return on equity of 72.52%. Intuit’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 EPS. research analysts predict that Intuit Inc. will post 4.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Tuesday, April 10th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, April 9th. Intuit’s payout ratio is currently 42.86%.
In related news, EVP Henry Tayloe Stansbury sold 2,158 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $158.94, for a total transaction of $342,992.52. Following the sale, the executive vice president now directly owns 3,050 shares in the company, valued at approximately $484,767. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Scott D. Cook sold 159,556 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $170.26, for a total transaction of $27,166,004.56. The disclosure for this sale can be found here. Insiders have sold a total of 728,049 shares of company stock worth $121,193,430 over the last 90 days. 5.59% of the stock is currently owned by corporate insiders.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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