ProShare Advisors LLC Has $201.87 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

ProShare Advisors LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 8.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,167 shares of the software maker’s stock after selling 27,763 shares during the period. ProShare Advisors LLC owned approximately 0.11% of Intuit worth $201,873,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in INTU. Kowal Investment Group LLC acquired a new stake in shares of Intuit during the second quarter worth approximately $248,000. Legacy Financial Advisors Inc. increased its holdings in shares of Intuit by 2.2% during the second quarter. Legacy Financial Advisors Inc. now owns 1,106 shares of the software maker’s stock worth $727,000 after buying an additional 24 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Intuit by 60.9% during the second quarter. Summit Trail Advisors LLC now owns 4,013 shares of the software maker’s stock worth $2,637,000 after buying an additional 1,519 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Intuit by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock worth $9,427,000 after buying an additional 186 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC increased its holdings in shares of Intuit by 31.8% during the second quarter. Garden State Investment Advisory Services LLC now owns 791 shares of the software maker’s stock worth $520,000 after buying an additional 191 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 1.4 %

Shares of NASDAQ INTU opened at $644.99 on Friday. The company’s fifty day moving average is $636.82 and its 200-day moving average is $631.24. The stock has a market cap of $180.31 billion, a price-to-earnings ratio of 59.50, a P/E/G ratio of 3.14 and a beta of 1.24. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is currently 38.38%.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,389 shares of company stock valued at $14,231,188. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on INTU shares. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets raised their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, Royal Bank of Canada assumed coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.