MONECO Advisors LLC Has $772,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

MONECO Advisors LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,228 shares of the software maker’s stock after purchasing an additional 112 shares during the period. MONECO Advisors LLC’s holdings in Intuit were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in INTU. Foundations Investment Advisors LLC grew its holdings in Intuit by 8.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 402 shares of the software maker’s stock worth $250,000 after acquiring an additional 30 shares during the period. Dakota Wealth Management grew its stake in shares of Intuit by 5.5% during the third quarter. Dakota Wealth Management now owns 4,057 shares of the software maker’s stock worth $2,519,000 after purchasing an additional 213 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in Intuit by 1.8% in the third quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock valued at $604,000 after purchasing an additional 17 shares during the last quarter. Country Club Bank bought a new stake in Intuit in the third quarter valued at about $399,000. Finally, Allworth Financial LP lifted its stake in Intuit by 2.9% in the third quarter. Allworth Financial LP now owns 2,877 shares of the software maker’s stock valued at $1,787,000 after buying an additional 82 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INTU. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $726.71.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock valued at $140,855,687 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $565.47 on Monday. 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 business’s 50 day moving average price is $612.23 and its two-hundred day moving average price is $628.49. The company has a market cap of $158.28 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last posted its 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 return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm earned $1.14 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

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.