Intuit Inc. (NASDAQ:INTU) Stake Boosted by Dowling & Yahnke LLC

Dowling & Yahnke LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,162 shares of the software maker’s stock after purchasing an additional 325 shares during the quarter. Dowling & Yahnke LLC’s holdings in Intuit were worth $3,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. AE Wealth Management LLC lifted its stake in Intuit by 106.9% during the second quarter. AE Wealth Management LLC now owns 5,406 shares of the software maker’s stock worth $1,413,000 after purchasing an additional 2,793 shares during the last quarter. Flagship Harbor Advisors LLC lifted its stake in Intuit by 67.0% during the second quarter. Flagship Harbor Advisors LLC now owns 536 shares of the software maker’s stock worth $140,000 after purchasing an additional 215 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Intuit by 300.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,480 shares of the software maker’s stock worth $387,000 after purchasing an additional 1,110 shares during the last quarter. Garner Asset Management Corp lifted its stake in Intuit by 47.6% during the second quarter. Garner Asset Management Corp now owns 1,573 shares of the software maker’s stock worth $411,000 after purchasing an additional 507 shares during the last quarter. Finally, G&S Capital LLC bought a new position in Intuit during the second quarter worth $114,000. Hedge funds and other institutional investors own 88.21% of the company’s stock.

A number of equities research analysts have issued reports on the company. KeyCorp raised their target price on Intuit from $280.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating and set a $268.00 target price on the stock. in a research note on Wednesday, May 29th. Deutsche Bank raised their target price on Intuit from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Morgan Stanley raised their target price on Intuit from $239.00 to $244.00 and gave the company an “equal weight” rating in a research note on Friday, May 24th. Finally, UBS Group raised their target price on Intuit from $245.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, May 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Intuit has an average rating of “Buy” and an average target price of $254.15.

In related news, Chairman Scott D. Cook sold 133,334 shares of Intuit stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $262.87, for a total transaction of $35,049,508.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total value of $2,723,637.56. Following the transaction, the chief financial officer now directly owns 10,628 shares in the company, valued at $2,723,637.56. The disclosure for this sale can be found here. Insiders have sold 277,296 shares of company stock worth $72,342,898 over the last three months. Corporate insiders own 4.60% of the company’s stock.

INTU stock opened at $277.96 on Friday. The company has a market capitalization of $72.49 billion, a PE ratio of 61.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.09. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.85 and a quick ratio of 1.85. Intuit Inc. has a 1 year low of $182.61 and a 1 year high of $284.97. The company has a fifty day moving average of $270.89.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, beating analysts’ consensus estimates of $5.12 by $0.43. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $4.82 earnings per share. Analysts predict that Intuit Inc. will post 5.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, July 9th. Intuit’s dividend payout ratio (DPR) is 41.50%.

Intuit Company Profile

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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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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