GHP Investment Advisors Inc. Sells 711 Shares of Intuit Inc. (NASDAQ:INTU)
GHP Investment Advisors Inc. lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 23,274 shares of the software maker’s stock after selling 711 shares during the period. GHP Investment Advisors Inc.’s holdings in Intuit were worth $6,082,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of INTU. Financial Gravity Wealth Inc. purchased a new stake in Intuit in the 1st quarter worth approximately $28,000. Private Ocean LLC purchased a new stake in Intuit in the 1st quarter worth approximately $28,000. Manchester Financial Inc. purchased a new stake in Intuit in the 2nd quarter worth approximately $30,000. FNY Investment Advisers LLC purchased a new stake in Intuit in the 2nd quarter worth approximately $30,000. Finally, Thor Advisors LLC purchased a new stake in Intuit in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 88.48% of the company’s stock.
In related news, CFO Michelle M. Clatterbuck sold 10,628 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the completion of the transaction, the chief financial officer now directly owns 10,628 shares of the company’s stock, valued at $2,723,637.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Scott D. Cook sold 133,334 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $262.87, for a total transaction of $35,049,508.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 277,296 shares of company stock valued at $72,342,898. Insiders own 4.60% of the company’s stock.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.43. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the firm posted $4.82 EPS. The company’s revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Intuit Inc. will post 5.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders 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 yield of 0.69%. The ex-dividend date was Tuesday, July 9th. Intuit’s dividend payout ratio (DPR) is currently 41.50%.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group increased their target price on shares of Intuit from $260.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. ValuEngine lowered shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus increased their target price on shares of Intuit from $258.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Barclays increased their target price on shares of Intuit from $225.00 to $237.00 and gave the stock an “equal weight” rating in a report on Friday, May 24th. Finally, KeyCorp increased their target price on shares of Intuit from $280.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Intuit has an average rating of “Buy” and an average price target of $254.15.
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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