Fifth Third Wealth Advisors LLC Has $1.81 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,909 shares of the software maker’s stock after purchasing an additional 51 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Intuit were worth $1,807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the second quarter valued at approximately $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 5.1 %

Shares of NASDAQ:INTU opened at $644.17 on Wednesday. The business’s 50 day moving average is $634.32 and its 200 day moving average is $630.75. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market cap of $180.55 billion, a price-to-earnings ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The business’s revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent analyst reports. Scotiabank began coverage on Intuit in a research report on Monday. They issued a “sector perform” rating and a $700.00 target price on the stock. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group lifted their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Five equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $737.06.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit 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.