Artemis Investment Management LLP lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 74.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,086 shares of the software maker's stock after selling 59,144 shares during the quarter. Artemis Investment Management LLP's holdings in Intuit were worth $12,473,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. LGT Financial Advisors LLC purchased a new position in Intuit in the 2nd quarter worth $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth about $35,000. Finally, Trifecta Capital Advisors LLC boosted its position in Intuit by 145.8% in the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker's stock valued at $39,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.
A number of equities analysts have issued reports on the stock. Susquehanna reissued a "positive" rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Erste Group Bank reaffirmed a "hold" rating on shares of Intuit in a research report on Friday, June 14th. StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Monday, September 30th. Finally, Barclays lowered their target price on Intuit from $745.00 to $740.00 and set an "overweight" rating on the stock in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Intuit has an average rating of "Moderate Buy" and a consensus target price of $735.71.
Check Out Our Latest Analysis on Intuit
NASDAQ:INTU opened at $621.61 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $173.77 billion, a PE ratio of 57.34, a P/E/G ratio of 3.13 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a fifty day moving average of $631.71 and a two-hundred day moving average of $628.93.
Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit's payout ratio is presently 38.38%.
In other Intuit news, CFO Sandeep Aujla sold 775 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company's stock, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Kerry J. Mclean sold 11,079 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,297 shares of company stock valued at $32,750,926. Corporate insiders own 2.90% of the company's stock.
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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