Baer Investment Advisory LLC Acquires New Stake in Intuit Inc. (NASDAQ:INTU)

Baer Investment Advisory LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,843 shares of the software maker’s stock, valued at approximately $3,261,000. Intuit makes up approximately 6.8% of Baer Investment Advisory LLC’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd acquired a new stake in Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit in the fourth quarter worth $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 in the last quarter. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $720.13 on Friday. The firm has a market cap of $201.32 billion, a P/E ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business’s 50 day moving average is $616.76 and its 200-day moving average is $621.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $734.18.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $9.88 EPS. Equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Analysts Set New Price Targets

INTU has been the subject of a number of analyst reports. KeyCorp raised their target price on shares of Intuit from $770.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. Royal Bank of Canada upped their target price on Intuit from $760.00 to $850.00 and gave the stock an “outperform” rating in a report on Friday. Oppenheimer raised their price target on Intuit from $642.00 to $742.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $785.33.

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.