Intuit Inc. (NASDAQ:INTU) Holdings Decreased by Empower Advisory Group LLC

Empower Advisory Group LLC trimmed its position in Intuit Inc. (NASDAQ:INTU) by 5.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,244 shares of the software maker’s stock after selling 458 shares during the period. Empower Advisory Group LLC’s holdings in Intuit were worth $4,553,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Resonant Capital Advisors LLC acquired a new position in Intuit during the 3rd quarter valued at approximately $211,000. Trilogy Capital Inc. boosted its position in Intuit by 26.5% during the 3rd quarter. Trilogy Capital Inc. now owns 2,655 shares of the software maker’s stock valued at $1,649,000 after purchasing an additional 557 shares during the period. Northwest Investment Counselors LLC acquired a new position in Intuit during the 3rd quarter valued at approximately $27,000. Raleigh Capital Management Inc. boosted its position in Intuit by 7.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 365 shares of the software maker’s stock valued at $227,000 after purchasing an additional 26 shares during the period. Finally, Ledyard National Bank boosted its position in Intuit by 12.5% during the 3rd quarter. Ledyard National Bank now owns 569 shares of the software maker’s stock valued at $353,000 after purchasing an additional 63 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Down 1.3 %

Shares of Intuit stock opened at $579.94 on Wednesday. The stock’s fifty day moving average is $619.03 and its 200-day moving average is $629.49. The firm has a market capitalization of $162.34 billion, a PE ratio of 56.30, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. Equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Insider Activity at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.