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

AlphaCore Capital LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,599 shares of the software maker’s stock after purchasing 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.

A number of other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Intuit in the second quarter worth $184,982,000. Ameriprise Financial Inc. increased its holdings in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after purchasing an additional 169,190 shares during the last quarter. Finally, Seven Post Investment Office LP purchased a new stake in Intuit during the second quarter valued at about $107,513,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Up 4.4 %

Shares of INTU opened at $679.40 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a market cap of $190.31 billion, a price-to-earnings ratio of 65.01, a PEG ratio of 3.15 and a beta of 1.25. The firm has a 50 day moving average price of $635.12 and a 200-day moving average price of $631.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current year.

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 that occurred 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 available at this link. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Scotiabank assumed coverage on shares of Intuit in a report on Monday. They set a “sector perform” rating and a $700.00 target price on the stock. Barclays raised their price target on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Bank of America lifted their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $736.89.

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.