OneAscent Wealth Management LLC Invests $242,000 in Intuit Inc. (NASDAQ:INTU)

OneAscent Wealth Management LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 389 shares of the software maker’s stock, valued at approximately $242,000.

A number of other institutional investors have also recently bought and sold shares of INTU. Fortitude Family Office LLC lifted its stake in shares of Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after buying an additional 16 shares during the last quarter. WASHINGTON TRUST Co grew its position in shares of Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after purchasing an additional 16 shares during the last quarter. Gemmer Asset Management LLC increased its stake in shares of Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares during the period. PFG Investments LLC lifted its holdings in Intuit by 1.1% during the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after purchasing an additional 17 shares during the last quarter. Finally, Plancorp LLC boosted its stake in Intuit by 2.0% in the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $678.81 on Tuesday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $190.26 billion, a price-to-earnings ratio of 64.96, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a 50 day simple moving average of $634.11 and a 200 day simple moving average of $630.65.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. Research analysts anticipate that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INTU shares. JPMorgan Chase & Co. lifted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays raised their target price on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday. Scotiabank started coverage on Intuit in a research note on Monday. They issued a “sector perform” rating and a $700.00 price target for the company. Finally, Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.06.

Insider Activity

In related news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 20 shares in the company, valued at $12,575.20. This trade represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last quarter. 2.90% of the stock is owned by company 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.