Eads & Heald Wealth Management Lowers Stake in Intuit Inc. (INTU)

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Eads & Heald Wealth Management lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,650 shares of the software maker’s stock after selling 245 shares during the period. Eads & Heald Wealth Management’s holdings in Intuit were worth $1,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. raised its position in shares of Intuit by 2,480.0% in the third quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock valued at $117,000 after purchasing an additional 496 shares during the period. Fort L.P. bought a new stake in shares of Intuit in the second quarter valued at approximately $120,000. Financial Gravity Wealth Inc. raised its position in shares of Intuit by 65.0% in the third quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock valued at $122,000 after purchasing an additional 240 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Intuit by 160.1% in the second quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock valued at $124,000 after purchasing an additional 373 shares during the period. Finally, Sun Life Financial INC raised its position in shares of Intuit by 243.8% in the second quarter. Sun Life Financial INC now owns 660 shares of the software maker’s stock valued at $135,000 after purchasing an additional 468 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Shares of NASDAQ:INTU opened at $211.00 on Thursday. The company has a market cap of $52.46 billion, a P/E ratio of 46.58, a PEG ratio of 2.32 and a beta of 1.21. Intuit Inc. has a 12 month low of $150.43 and a 12 month high of $231.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.14 and a quick ratio of 1.14.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, beating the consensus estimate of $0.23 by $0.09. The company had revenue of $988.00 million during the quarter, compared to analysts’ expectations of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. Intuit’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 5.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, October 9th. This is a boost from Intuit’s previous quarterly dividend of $0.39. Intuit’s payout ratio is currently 41.50%.

In other Intuit news, CEO Brad D. Smith sold 254,325 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $227.66, for a total value of $57,899,629.50. Following the completion of the transaction, the chief executive officer now owns 415,445 shares of the company’s stock, valued at approximately $94,580,208.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Henry Tayloe Stansbury sold 3,651 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $221.54, for a total transaction of $808,842.54. Following the completion of the transaction, the executive vice president now directly owns 4,048 shares of the company’s stock, valued at approximately $896,793.92. The disclosure for this sale can be found here. In the last three months, insiders sold 622,236 shares of company stock valued at $137,883,071. Corporate insiders own 5.59% of the company’s stock.

INTU has been the topic of several research reports. BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 19th. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Argus boosted their price target on shares of Intuit from $225.00 to $250.00 in a research report on Tuesday, July 24th. Guggenheim initiated coverage on shares of Intuit in a research report on Tuesday, August 7th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Barclays boosted their price target on shares of Intuit from $194.00 to $204.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. Intuit has a consensus rating of “Buy” and a consensus target price of $224.29.

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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