Moss Adams Wealth Advisors LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Moss Adams Wealth Advisors LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,411 shares of the software maker’s stock after purchasing an additional 81 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Intuit were worth $1,497,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. LGT Financial Advisors LLC purchased a new position in shares of Intuit in the second quarter worth $25,000. Cultivar Capital Inc. purchased a new position in Intuit in the 2nd quarter worth $26,000. Fairway Wealth LLC acquired a new stake in Intuit during the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at about $35,000. Finally, Trifecta Capital Advisors LLC increased its holdings in shares of Intuit by 145.8% in the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after purchasing an additional 35 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on INTU. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group increased their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Royal Bank of Canada started coverage on Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Finally, Barclays lowered their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Performance

INTU opened at $613.29 on Friday. The firm’s fifty day simple moving average is $630.40 and its two-hundred day simple moving average is $627.53. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The company has a market cap of $171.44 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 3.04 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $0.40 EPS. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s payout ratio is presently 38.38%.

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.