Intuit Inc. (NASDAQ:INTU) Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 62,604 shares of the software maker’s stock after selling 577 shares during the period. Intuit accounts for 4.1% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 5th biggest holding. Asset Advisors Investment Management LLC’s holdings in Intuit were worth $39,347,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Holocene Advisors LP boosted its position in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB lifted its holdings in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. State Street Corp grew its position in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Intuit during the 4th quarter valued at about $104,278,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Intuit by 85.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 358,834 shares of the software maker’s stock worth $222,836,000 after buying an additional 165,805 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Oppenheimer boosted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $726.71.

Intuit Stock Performance

Shares of INTU stock opened at $565.47 on Monday. The company has a market capitalization of $158.28 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $612.23 and its 200-day simple moving average is $628.49.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. On average, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

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.