AlphaCore Capital LLC Acquires 80 Shares of Intuit Inc. (NASDAQ:INTU)

AlphaCore Capital LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,599 shares of the software maker’s stock after acquiring an additional 80 shares during the period. AlphaCore Capital LLC’s holdings in Intuit were worth $993,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Harvest Portfolios Group Inc. raised its position in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the last quarter. GAMMA Investing LLC raised its holdings in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after buying an additional 968 shares during the last quarter. Retireful LLC bought a new position in shares of Intuit in the third quarter worth approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Intuit during the third quarter valued at approximately $56,144,000. Finally, Cetera Advisors LLC increased its position in shares of Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 over the last quarter. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on INTU shares. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Barclays boosted their target price on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $736.89.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $679.40 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm has a fifty day moving average price of $635.12 and a 200-day moving average price of $631.23. The stock has a market cap of $190.31 billion, a PE ratio of 65.01, a price-to-earnings-growth ratio of 3.15 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. Equities analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

About Intuit

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.