Baird Financial Group Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,996 shares of the software maker’s stock after selling 843 shares during the quarter. Baird Financial Group Inc.’s holdings in Intuit were worth $3,870,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Fundsmith Equity Fund L.P. bought a new stake in Intuit in the 2nd quarter worth approximately $810,956,000. Bank of New York Mellon Corp lifted its position in Intuit by 46,373.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,858,100 shares of the software maker’s stock worth $649,932,000 after buying an additional 2,851,950 shares during the last quarter. BlackRock Inc. lifted its position in Intuit by 8.0% in the 3rd quarter. BlackRock Inc. now owns 18,793,808 shares of the software maker’s stock worth $4,273,712,000 after buying an additional 1,398,906 shares during the last quarter. FMR LLC lifted its position in Intuit by 14.3% in the 2nd quarter. FMR LLC now owns 10,343,136 shares of the software maker’s stock worth $2,113,155,000 after buying an additional 1,290,503 shares during the last quarter. Finally, Morgan Stanley lifted its position in Intuit by 25.1% in the 2nd quarter. Morgan Stanley now owns 2,623,888 shares of the software maker’s stock worth $536,074,000 after buying an additional 525,743 shares during the last quarter. Hedge funds and other institutional investors own 87.90% of the company’s stock.
Shares of Intuit stock opened at $202.46 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $53.89 billion, a price-to-earnings ratio of 44.69, a P/E/G ratio of 2.42 and a beta of 1.19. Intuit Inc. has a one year low of $150.43 and a one year high of $231.84.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, November 19th. The software maker reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.18. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $971.45 million. Intuit had a return on equity of 56.35% and a net margin of 20.71%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. As a group, equities analysts expect that Intuit Inc. will post 5.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Thursday, January 10th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.88 dividend on an annualized basis and a yield of 0.93%. Intuit’s dividend payout ratio (DPR) is currently 41.50%.
In other news, CEO Brad D. Smith sold 22,418 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $205.63, for a total transaction of $4,609,813.34. Following the transaction, the chief executive officer now directly owns 292,520 shares of the company’s stock, valued at $60,150,887.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brad D. Smith sold 254,325 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $227.66, for a total value of $57,899,629.50. Following the transaction, the chief executive officer now directly owns 415,445 shares in the company, valued at $94,580,208.70. The disclosure for this sale can be found here. Insiders have sold 701,533 shares of company stock worth $148,887,741 over the last three months. Insiders own 4.60% of the company’s stock.
INTU has been the subject of a number of recent research reports. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $243.00 target price for the company in a research report on Tuesday, August 28th. Stifel Nicolaus boosted their target price on Intuit from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Argus boosted their target price on Intuit from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. Deutsche Bank initiated coverage on Intuit in a research report on Monday, October 8th. They issued a “buy” rating and a $265.00 target price for the company. Finally, BidaskClub downgraded Intuit from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $219.71.
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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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