Intuit Inc. (NASDAQ:INTU) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 26.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 38,885 shares of the software maker’s stock after purchasing an additional 8,138 shares during the period. LPL Financial LLC’s holdings in Intuit were worth $12,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. BlackRock Inc. grew its stake in shares of Intuit by 4.1% in the second quarter. BlackRock Inc. now owns 23,085,334 shares of the software maker’s stock worth $6,837,643,000 after purchasing an additional 916,632 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Intuit by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 2,974,425 shares of the software maker’s stock worth $880,994,000 after purchasing an additional 178,720 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Intuit by 2.6% in the second quarter. Bank of America Corp DE now owns 2,631,783 shares of the software maker’s stock worth $779,509,000 after purchasing an additional 66,772 shares in the last quarter. Winslow Capital Management LLC grew its stake in shares of Intuit by 1.3% in the second quarter. Winslow Capital Management LLC now owns 1,780,182 shares of the software maker’s stock worth $527,271,000 after purchasing an additional 22,646 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Intuit by 30.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,752,372 shares of the software maker’s stock worth $518,148,000 after purchasing an additional 412,257 shares in the last quarter. 85.52% of the stock is currently owned by hedge funds and other institutional investors.

In other Intuit news, EVP Laura A. Fennell sold 29,204 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $320.34, for a total value of $9,355,209.36. Following the sale, the executive vice president now owns 95,313 shares of the company’s stock, valued at approximately $30,532,566.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 16,332 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $328.79, for a total value of $5,369,798.28. Following the completion of the sale, the executive vice president now directly owns 82,441 shares in the company, valued at approximately $27,105,776.39. The disclosure for this sale can be found here. Insiders sold a total of 244,742 shares of company stock worth $83,471,109 in the last ninety days. Insiders own 4.09% of the company’s stock.

INTU has been the subject of several research reports. Stifel Nicolaus raised their target price on Intuit from $300.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. BidaskClub upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, November 10th. Mizuho increased their price target on Intuit from $330.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Oppenheimer increased their price target on Intuit from $355.00 to $382.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Royal Bank of Canada increased their price target on Intuit from $405.00 to $415.00 and gave the company an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Intuit has an average rating of “Buy” and a consensus price target of $374.28.

Shares of Intuit stock opened at $347.69 on Friday. The company has a market cap of $91.03 billion, a P/E ratio of 50.24, a P/E/G ratio of 3.33 and a beta of 0.99. The stock has a 50-day moving average price of $338.89 and a 200 day moving average price of $311.04. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.40. Intuit Inc. has a 1 year low of $187.68 and a 1 year high of $377.15.

Intuit (NASDAQ:INTU) last released its earnings results on Wednesday, November 18th. The software maker reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.90. Intuit had a return on equity of 40.79% and a net margin of 23.78%. During the same period last year, the company posted $0.55 EPS. On average, equities analysts forecast that Intuit Inc. will post 7.11 earnings per share for the current fiscal year.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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