Beacon Investment Advisory Services Inc. Has $25.90 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Beacon Investment Advisory Services Inc. lessened its stake in Intuit Inc. (NASDAQ:INTU) by 0.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,711 shares of the software maker’s stock after selling 16 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Intuit were worth $25,903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Douglas Lane & Associates LLC increased its stake in Intuit by 7.8% in the second quarter. Douglas Lane & Associates LLC now owns 1,627 shares of the software maker’s stock valued at $1,069,000 after acquiring an additional 118 shares during the last quarter. Mather Group LLC. increased its stake in shares of Intuit by 15.4% in the 2nd quarter. Mather Group LLC. now owns 2,998 shares of the software maker’s stock valued at $1,949,000 after purchasing an additional 399 shares during the last quarter. Fulton Bank N.A. raised its holdings in shares of Intuit by 17.4% during the 2nd quarter. Fulton Bank N.A. now owns 1,819 shares of the software maker’s stock worth $1,195,000 after buying an additional 270 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Intuit by 0.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,267 shares of the software maker’s stock worth $2,147,000 after buying an additional 21 shares during the last quarter. Finally, Value Partners Investments Inc. grew its position in Intuit by 19.1% in the second quarter. Value Partners Investments Inc. now owns 3,087 shares of the software maker’s stock valued at $2,029,000 after acquiring an additional 496 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $641.73 on Monday. The firm has a market cap of $179.71 billion, a PE ratio of 62.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The business’s 50 day moving average price is $634.10 and its two-hundred day moving average price is $631.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 130,265 shares of company stock worth $83,336,625. 2.90% of the stock is owned by corporate insiders.

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.