Beacon Investment Advisory Services Inc. Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Beacon Investment Advisory Services Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,711 shares of the software maker’s stock after selling 16 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Intuit were worth $25,903,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Benjamin Edwards Inc. grew its holdings in Intuit by 2,099.2% during the third quarter. Benjamin Edwards Inc. now owns 54,254 shares of the software maker’s stock valued at $33,704,000 after purchasing an additional 51,787 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Intuit during the 3rd quarter worth $2,146,000. Kestra Investment Management LLC purchased a new position in shares of Intuit in the third quarter worth about $235,000. Point72 Hong Kong Ltd purchased a new stake in shares of Intuit during the 3rd quarter valued at approximately $26,065,000. Finally, FSA Wealth Management LLC bought a new position in Intuit in the 3rd quarter worth approximately $1,305,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 of the company’s stock, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,265 shares of company stock worth $83,336,625. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Up 0.9 %

INTU opened at $641.73 on Monday. Intuit Inc. has a 12 month low of $557.29 and a 12 month 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 business’s 50-day moving average price is $634.10 and its 200-day moving average price is $631.26. The company has a market cap of $179.71 billion, a P/E ratio of 62.30, a P/E/G ratio of 3.17 and a beta of 1.25.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on INTU shares. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Bank of America increased their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $737.44.

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.