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

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

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Intuit by 1.8% in 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 boosted its stake in 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 grew 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 during the last quarter. Legal & General Group Plc increased its stake 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 purchasing an additional 23,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intuit by 4.0% in 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 during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 291,936 shares of company stock worth $188,324,604 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.4 %

NASDAQ: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 quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $649.58 and a 200-day simple moving average of $638.21. The company has a market capitalization of $174.51 billion, a PE ratio of 60.53, a price-to-earnings-growth ratio of 3.24 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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 issued a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INTU. JPMorgan Chase & Co. boosted their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.