Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,600 shares of the software maker’s stock after buying an additional 293 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Intuit were worth $18,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its position in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the period. Geode Capital Management LLC grew its holdings in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after purchasing an additional 80,463 shares during the period. Fisher Asset Management LLC increased its position in Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. Legal & General Group Plc raised its holdings in Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after buying an additional 23,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after buying an additional 87,517 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU opened at $623.43 on Friday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $174.51 billion, a price-to-earnings ratio of 60.53, a PEG ratio of 3.24 and a beta of 1.25. The stock has a 50 day moving average of $649.58 and a 200-day moving average of $638.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s payout ratio is 40.39%.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $737.44.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the sale, the executive vice president now owns 33,916 shares in the company, valued at approximately $22,304,518.24. This represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 291,936 shares of company stock valued at $188,324,604. Insiders own 2.68% of the company’s stock.

Intuit Company Profile

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.