Asset Advisors Investment Management LLC Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Asset Advisors Investment Management LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 62,604 shares of the software maker’s stock after selling 577 shares during the period. Intuit makes up about 4.1% of Asset Advisors Investment Management LLC’s holdings, making the stock its 5th largest holding. Asset Advisors Investment Management LLC’s holdings in Intuit were worth $39,347,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brown Financial Advisors raised its holdings in Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC increased its stake in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the period. Mount Yale Investment Advisors LLC increased its stake in shares of Intuit by 1.8% in the third 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 during the period. True North Advisors LLC lifted its position in shares of Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares during the last quarter. Finally, Great Diamond Partners LLC boosted its stake in Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 in the last three months. Insiders own 2.68% of the company’s stock.

Intuit Stock Down 2.4 %

INTU opened at $565.47 on Monday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The firm has a market cap of $158.28 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 2.85 and a beta of 1.24. The firm’s 50-day simple moving average is $612.23 and its 200-day simple moving average is $628.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. Equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTU. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus cut their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.71.

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.