Standard Life Aberdeen plc cut its position in Intuit Inc. (NASDAQ:INTU) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,642 shares of the software maker’s stock after selling 16,757 shares during the quarter. Standard Life Aberdeen plc owned about 0.07% of Intuit worth $47,054,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Atlas Private Wealth Management bought a new position in shares of Intuit in the fourth quarter worth $26,000. Manchester Financial Inc. acquired a new stake in Intuit during the fourth quarter worth about $30,000. Virtus ETF Advisers LLC acquired a new stake in Intuit during the fourth quarter worth about $31,000. Aigen Investment Management LP bought a new position in Intuit in the 4th quarter valued at about $35,000. Finally, Princeton Global Asset Management LLC increased its holdings in Intuit by 846.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 142 shares of the software maker’s stock valued at $37,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 87.34% of the company’s stock.
INTU has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “neutral” rating and set a $312.00 price target on shares of Intuit in a report on Thursday, February 20th. Zacks Investment Research raised shares of Intuit from a “sell” rating to a “hold” rating and set a $282.00 price objective on the stock in a research note on Friday, February 28th. KeyCorp lowered their price objective on shares of Intuit from $320.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday. Credit Suisse Group upped their target price on Intuit from to in a research note on Tuesday, February 25th. Finally, Morgan Stanley cut their target price on Intuit from $290.00 to $254.00 and set an “equal weight” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Intuit presently has an average rating of “Hold” and an average price target of $289.45.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, February 24th. The software maker reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.14. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.68 billion. Intuit had a return on equity of 41.03% and a net margin of 22.89%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Monday, April 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, April 9th. Intuit’s dividend payout ratio (DPR) is currently 37.99%.
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.
Further Reading: Example of operating income, EBIT and EBITDA
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