Lake Street Advisors Group LLC Has $2.99 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Lake Street Advisors Group LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,817 shares of the software maker’s stock after buying an additional 267 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Intuit were worth $2,991,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Ballentine Partners LLC increased its holdings in Intuit by 27.0% during the 3rd quarter. Ballentine Partners LLC now owns 3,805 shares of the software maker’s stock worth $2,363,000 after purchasing an additional 810 shares in the last quarter. Freedom Day Solutions LLC increased its holdings in Intuit by 0.4% during the 3rd quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock worth $2,599,000 after purchasing an additional 17 shares in the last quarter. Moody Lynn & Lieberson LLC increased its holdings in Intuit by 84.1% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 5,584 shares of the software maker’s stock worth $3,468,000 after purchasing an additional 2,551 shares in the last quarter. E. Ohman J or Asset Management AB increased its holdings in Intuit by 1.1% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 72,774 shares of the software maker’s stock worth $45,193,000 after purchasing an additional 760 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in Intuit by 1.8% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock worth $604,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays decreased their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Citigroup raised their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. BMO Capital Markets raised their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada initiated coverage on shares of Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Performance

Shares of INTU stock traded up $10.55 during trading on Friday, reaching $614.53. 145,341 shares of the company’s stock traded hands, compared to its average volume of 1,313,882. The company has a market capitalization of $171.79 billion, a P/E ratio of 55.72, a PEG ratio of 3.04 and a beta of 1.24. 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 firm’s 50-day moving average is $628.71 and its 200 day moving average is $627.16. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62.

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 for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. Equities research analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio is currently 38.38%.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last three months. 2.90% of the stock is currently 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.