HighTower Advisors LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

HighTower Advisors LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 19.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 62,850 shares of the software maker’s stock after acquiring an additional 10,299 shares during the period. HighTower Advisors LLC’s holdings in Intuit were worth $32,335,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Financial Group LLC lifted its stake in shares of Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after buying an additional 20 shares in the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of Intuit by 0.9% in the third quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock worth $1,145,000 after buying an additional 20 shares in the last quarter. Family Firm Inc. lifted its stake in shares of Intuit by 2.8% in the third quarter. Family Firm Inc. now owns 773 shares of the software maker’s stock worth $395,000 after buying an additional 21 shares in the last quarter. Outfitter Financial LLC lifted its stake in shares of Intuit by 0.5% in the third quarter. Outfitter Financial LLC now owns 3,987 shares of the software maker’s stock worth $2,037,000 after buying an additional 21 shares in the last quarter. Finally, Analyst IMS Investment Management Services Ltd. lifted its stake in shares of Intuit by 0.7% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 3,213 shares of the software maker’s stock worth $1,465,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 14,772 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the completion of the transaction, the executive vice president now owns 50,030 shares in the company, valued at approximately $29,943,955.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Intuit news, EVP Laura A. Fennell sold 14,772 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the completion of the transaction, the executive vice president now owns 50,030 shares in the company, valued at approximately $29,943,955.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sasan K. Goodarzi sold 93,641 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $569.02, for a total transaction of $53,283,601.82. Following the transaction, the chief executive officer now owns 65,324 shares of the company’s stock, valued at approximately $37,170,662.48. The disclosure for this sale can be found here. Insiders sold 124,815 shares of company stock worth $71,849,903 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.8 %

Shares of INTU stock opened at $658.16 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $184.22 billion, a P/E ratio of 71.93, a price-to-earnings-growth ratio of 3.93 and a beta of 1.24. The company has a 50 day moving average price of $615.68 and a 200 day moving average price of $555.05. Intuit Inc. has a fifty-two week low of $384.05 and a fifty-two week high of $662.83.

Intuit (NASDAQ:INTUGet Free Report) last announced its quarterly earnings data on Tuesday, November 28th. The software maker reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.49. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intuit had a net margin of 17.53% and a return on equity of 17.34%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. Equities research analysts predict that Intuit Inc. will post 11.26 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Wednesday, January 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 39.34%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTU. Barclays raised their price target on shares of Intuit from $570.00 to $660.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 29th. Wells Fargo & Company lifted their target price on shares of Intuit from $575.00 to $615.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 29th. Stifel Nicolaus lifted their target price on shares of Intuit from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. KeyCorp lifted their target price on shares of Intuit from $670.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Finally, Mizuho lifted their target price on shares of Intuit from $600.00 to $625.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $594.67.

Get Our Latest Stock Report on INTU

Intuit Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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