EP Wealth Advisors LLC Has $6.20 Million Position in Intuit Inc. (NASDAQ:INTU)

EP Wealth Advisors LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 79.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,987 shares of the software maker’s stock after buying an additional 4,422 shares during the quarter. EP Wealth Advisors LLC’s holdings in Intuit were worth $6,202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new position in Intuit in the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit in the second quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new position in Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INTU. Piper Sandler reduced their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,324 shares of company stock worth $75,803,690 over the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $646.47 on Friday. The firm has a market capitalization of $180.96 billion, a PE ratio of 62.76, a PEG ratio of 3.23 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business’s 50 day moving average is $635.08 and its 200-day moving average is $630.82.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share 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 firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company earned $1.14 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Intuit 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.