Private Advisor Group LLC Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Private Advisor Group LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,998 shares of the software maker’s stock after acquiring an additional 581 shares during the quarter. Private Advisor Group LLC’s holdings in Intuit were worth $5,655,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of INTU. Foundations Investment Advisors LLC boosted its holdings in Intuit by 8.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 402 shares of the software maker’s stock valued at $250,000 after acquiring an additional 30 shares during the period. McAdam LLC purchased a new position in Intuit during the 3rd quarter valued at $205,000. Values First Advisors Inc. purchased a new position in Intuit during the 3rd quarter valued at $120,000. Dakota Wealth Management lifted its holdings in shares of Intuit by 5.5% in the 3rd quarter. Dakota Wealth Management now owns 4,057 shares of the software maker’s stock worth $2,519,000 after buying an additional 213 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its position in shares of Intuit by 1.8% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock worth $604,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last ninety days. 2.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

INTU has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley raised their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Oppenheimer lifted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

Shares of INTU stock opened at $565.47 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $158.28 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 2.85 and a beta of 1.24. The stock’s 50-day simple moving average is $612.23 and its 200-day simple moving average is $628.35.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

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.