Claro Advisors LLC Decreases Position in Intuit Inc. (NASDAQ:INTU)

Claro Advisors LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 5.8% during the 3rd quarter, Holdings Channel reports. The firm owned 341 shares of the software maker’s stock after selling 21 shares during the quarter. Claro Advisors LLC’s holdings in Intuit were worth $212,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Concord Asset Management LLC VA grew its stake in Intuit by 12.3% in the 3rd quarter. Concord Asset Management LLC VA now owns 1,383 shares of the software maker’s stock valued at $859,000 after acquiring an additional 151 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $396,000. Sather Financial Group Inc grew its position in shares of Intuit by 0.7% in the third quarter. Sather Financial Group Inc now owns 71,623 shares of the software maker’s stock valued at $44,478,000 after purchasing an additional 508 shares during the last quarter. Schear Investment Advisers LLC increased its stake in shares of Intuit by 6.1% during the 3rd quarter. Schear Investment Advisers LLC now owns 1,766 shares of the software maker’s stock worth $1,097,000 after purchasing an additional 102 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC raised its position in shares of Intuit by 3.4% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 9,758 shares of the software maker’s stock worth $6,060,000 after purchasing an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Barclays lifted their price objective on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler restated an “overweight” rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $737.06.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This represents a 36.69 % decrease in their position. The sale was disclosed in a document filed 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 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 transaction, the executive vice president now directly owns 20 shares in the company, valued at $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. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $644.17 on Wednesday. The business’s fifty day moving average price is $634.32 and its 200 day moving average price is $630.75. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $180.55 billion, a P/E ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. As a group, research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current 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.