Alpha Omega Wealth Management LLC Lowers Stake in Intuit Inc. (NASDAQ:INTU)

Alpha Omega Wealth Management LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 17.4% in the third quarter, HoldingsChannel.com reports. The firm owned 888 shares of the software maker’s stock after selling 187 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Intuit were worth $479,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. WT Wealth Management boosted its position in shares of Intuit by 8.0% during the 2nd quarter. WT Wealth Management now owns 3,720 shares of the software maker’s stock worth $1,823,000 after purchasing an additional 276 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Intuit by 5.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 57,285 shares of the software maker’s stock worth $28,079,000 after buying an additional 3,195 shares in the last quarter. Ironwood Wealth Management LLC. lifted its holdings in Intuit by 27.3% during the 1st quarter. Ironwood Wealth Management LLC. now owns 4,498 shares of the software maker’s stock worth $1,723,000 after buying an additional 966 shares in the last quarter. Beacon Pointe Advisors LLC lifted its holdings in Intuit by 93.9% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 3,763 shares of the software maker’s stock worth $1,845,000 after buying an additional 1,822 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Intuit by 8.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 59,170 shares of the software maker’s stock worth $29,002,000 after buying an additional 4,765 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:INTU opened at $684.00 on Thursday. The stock’s 50 day moving average price is $587.88 and its 200 day moving average price is $530.92. The company has a market capitalization of $193.69 billion, a PE ratio of 90.48, a P/E/G ratio of 5.86 and a beta of 1.07. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.21. Intuit Inc. has a 52-week low of $345.01 and a 52-week high of $716.86.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 18th. The software maker reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.56. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.81 billion. Intuit had a return on equity of 22.39% and a net margin of 20.28%. The firm’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 7.98 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 10th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, January 7th. This represents a $2.72 dividend on an annualized basis and a yield of 0.40%. Intuit’s payout ratio is 35.98%.

A number of equities research analysts have issued reports on INTU shares. Mizuho increased their target price on shares of Intuit from $640.00 to $730.00 and gave the stock a “buy” rating in a report on Friday, November 19th. Edward Jones initiated coverage on shares of Intuit in a report on Thursday, August 26th. They set a “hold” rating on the stock. KeyCorp raised their price objective on shares of Intuit from $625.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, November 19th. Stifel Nicolaus increased their target price on Intuit from $625.00 to $725.00 and gave the company a “buy” rating in a report on Friday, November 19th. Finally, Evercore ISI raised their price target on Intuit from $650.00 to $720.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $644.35.

In other news, EVP James Alexander Chriss sold 2,022 shares of the firm’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $562.53, for a total value of $1,137,435.66. Following the completion of the sale, the executive vice president now directly owns 3,234 shares of the company’s stock, valued at approximately $1,819,222.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 35,994 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $685.96, for a total value of $24,690,444.24. The disclosure for this sale can be found here. Insiders have sold a total of 80,191 shares of company stock valued at $49,736,475 over the last ninety days. 3.38% of the stock is owned by insiders.

Intuit Company Profile

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; Credit Karma; and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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