Oakbrook Investments LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 118.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,425 shares of the software makers stock after purchasing an additional 11,600 shares during the period. Oakbrook Investments LLCs holdings in Intuit were worth $3,045,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC grew its stake in shares of Intuit by 3.1% in the first quarter. Teachers Advisors LLC now owns 1,458,532 shares of the software makers stock worth $169,175,000 after purchasing an additional 44,481 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in Intuit by 5.7% during the 1st quarter. Thrivent Financial For Lutherans now owns 8,940 shares of the software makers stock valued at $1,037,000 after acquiring an additional 480 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Intuit by 0.5% in the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software makers stock worth $109,000 after purchasing an additional 5 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Intuit in the 1st quarter worth approximately $99,589,000. Finally, Vanguard Group Inc. boosted its position in shares of Intuit by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 16,373,494 shares of the software makers stock worth $1,899,162,000 after purchasing an additional 359,330 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the companys stock.
In related news, EVP Sasan K. Goodarzi sold 98,901 shares of the companys stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $135.22, for a total value of $13,373,393.22. Following the completion of the sale, the executive vice president now owns 7,801 shares of the companys stock, valued at $1,054,851.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Henry Tayloe Stansbury sold 5,350 shares of the companys stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $140.25, for a total transaction of $750,337.50. Following the completion of the sale, the executive vice president now directly owns 6,242 shares of the companys stock, valued at approximately $875,440.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,084,194 shares of company stock valued at $151,162,540. Corporate insiders own 5.70% of the companys stock.
A number of equities analysts recently weighed in on INTU shares. Argus initiated coverage on shares of Intuit in a report on Wednesday, September 20th. They issued a buy rating and a $165.00 price objective for the company. Moffett Nathanson initiated coverage on shares of Intuit in a research note on Thursday, September 7th. They set a buy rating and a $150.00 target price for the company. Zacks Investment Research raised shares of Intuit from a hold rating to a buy rating and set a $152.00 price objective for the company in a research report on Monday, August 28th. Jefferies Group LLC initiated coverage on shares of Intuit in a research report on Thursday, August 24th. They set a buy rating and a $157.00 price objective for the company. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $145.00 target price on shares of Intuit in a report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the companys stock. The company currently has a consensus rating of Hold and a consensus price target of $143.42.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping analysts consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm had revenue of $842.00 million during the quarter, compared to the consensus estimate of $808.82 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The firms revenue was up 11.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.39 per share. This is an increase from Intuits previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.56 annualized dividend and a dividend yield of 1.03%. Intuits payout ratio is 41.94%.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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