Huntington National Bank lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,837 shares of the software maker’s stock after selling 720 shares during the quarter. Huntington National Bank’s holdings in Intuit were worth $5,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in shares of Intuit during the second quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV bought a new stake in Intuit in the second quarter worth $27,000. Laurel Wealth Advisors LLC increased its position in Intuit by 50.0% in the first quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Cognios Capital LLC bought a new stake in Intuit in the first quarter worth $32,000. Finally, Cerebellum GP LLC bought a new position in Intuit during the second quarter valued at $32,000. 86.12% of the stock is currently owned by institutional investors.

A number of brokerages have recently commented on INTU. Stifel Nicolaus reduced their target price on shares of Intuit from $315.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Oppenheimer reaffirmed a “buy” rating and issued a $308.00 price target on shares of Intuit in a report on Friday, July 24th. Mizuho restated a “buy” rating and set a $330.00 target price on shares of Intuit in a research report on Monday, July 27th. Cfra downgraded shares of Intuit from a “hold” rating to a “sell” rating in a research report on Monday, April 6th. Finally, Guggenheim reiterated a “” rating and set a $320.00 price target (up previously from $300.00) on shares of Intuit in a research report on Friday, May 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $307.06.

Shares of INTU traded up $2.43 during midday trading on Friday, hitting $306.37. The company had a trading volume of 1,015,630 shares, compared to its average volume of 1,141,410. The company’s 50 day moving average price is $293.83 and its 200 day moving average price is $276.91. The stock has a market cap of $79.89 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 3.87 and a beta of 1.04. Intuit Inc. has a 52 week low of $187.68 and a 52 week high of $314.73. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.01.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.60 by ($0.11). Intuit had a return on equity of 32.03% and a net margin of 19.50%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the firm posted $5.55 EPS. Intuit’s revenue for the quarter was down 8.3% on a year-over-year basis. Equities analysts anticipate that Intuit Inc. will post 5.98 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Friday, July 10th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, July 9th. Intuit’s payout ratio is 37.99%.

In other news, SVP Kerry J. Mclean sold 18,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $287.09, for a total value of $5,167,620.00. Following the transaction, the senior vice president now directly owns 23,399 shares of the company’s stock, valued at approximately $6,717,618.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Alexander Chriss sold 337 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $291.10, for a total value of $98,100.70. Following the completion of the transaction, the executive vice president now directly owns 220 shares in the company, valued at $64,042. The disclosure for this sale can be found here. Insiders own 4.09% of the company’s stock.

Intuit 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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