LPL Financial LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)


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LPL Financial LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 26.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,885 shares of the software maker’s stock after buying an additional 8,138 shares during the quarter. LPL Financial LLC’s holdings in Intuit were worth $12,685,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Altium Wealth Management LLC boosted its stake in Intuit by 1.8% during the third quarter. Altium Wealth Management LLC now owns 1,763 shares of the software maker’s stock worth $575,000 after buying an additional 32 shares during the period. Sound View Wealth Advisors Group LLC boosted its stake in shares of Intuit by 2.3% in the third quarter. Sound View Wealth Advisors Group LLC now owns 1,396 shares of the software maker’s stock valued at $455,000 after purchasing an additional 32 shares during the period. Paragon Advisors LLC boosted its stake in shares of Intuit by 1.3% in the third quarter. Paragon Advisors LLC now owns 2,659 shares of the software maker’s stock valued at $867,000 after purchasing an additional 35 shares during the period. Bridges Investment Management Inc. boosted its stake in shares of Intuit by 3.3% in the second quarter. Bridges Investment Management Inc. now owns 1,154 shares of the software maker’s stock valued at $342,000 after purchasing an additional 37 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Intuit by 6.9% in the second quarter. Assetmark Inc. now owns 574 shares of the software maker’s stock valued at $170,000 after purchasing an additional 37 shares during the period. 85.52% of the stock is owned by institutional investors.

INTU has been the subject of several recent research reports. Citigroup raised their price objective on shares of Intuit from $292.00 to $362.00 and gave the company a “neutral” rating in a research note on Thursday, August 27th. Jefferies Financial Group raised their price objective on shares of Intuit from $340.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. BidaskClub raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, November 10th. Morgan Stanley raised their price objective on shares of Intuit from $400.00 to $455.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Argus raised their price objective on shares of Intuit from $325.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $374.28.

Shares of NASDAQ INTU opened at $347.69 on Friday. The firm has a market capitalization of $91.03 billion, a P/E ratio of 50.24, a PEG ratio of 3.33 and a beta of 0.99. Intuit Inc. has a one year low of $187.68 and a one year high of $377.15. The company’s fifty day moving average is $338.89 and its two-hundred day moving average is $311.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.26 and a current ratio of 2.26.

Intuit (NASDAQ:INTU) last issued its earnings results on Wednesday, November 18th. The software maker reported $0.94 EPS for the quarter, topping the consensus estimate of $0.04 by $0.90. Intuit had a net margin of 23.78% and a return on equity of 40.79%. During the same quarter last year, the company posted $0.55 EPS. On average, sell-side analysts forecast that Intuit Inc. will post 7.11 earnings per share for the current fiscal year.

In other news, EVP Gregory N. Johnson sold 3,069 shares of Intuit stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $341.96, for a total transaction of $1,049,475.24. Following the completion of the transaction, the executive vice president now owns 13,192 shares of the company’s stock, valued at approximately $4,511,136.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Brad D. Smith sold 18,773 shares of Intuit stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $342.01, for a total value of $6,420,553.73. Following the transaction, the chairman now directly owns 304,706 shares of the company’s stock, valued at approximately $104,212,499.06. The disclosure for this sale can be found here. Insiders have sold a total of 244,742 shares of company stock worth $83,471,109 over the last 90 days. Insiders own 4.09% 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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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