TrinityPoint Wealth LLC Reduces Position in Intuit Inc. (NASDAQ:INTU)

TrinityPoint Wealth LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 9.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,245 shares of the software maker’s stock after selling 125 shares during the period. TrinityPoint Wealth LLC’s holdings in Intuit were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the second quarter valued at about $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit during the second quarter worth about $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU stock opened at $678.81 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. 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 $190.26 billion, a PE ratio of 64.96, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a 50-day moving average price of $634.11 and a 200 day moving average price of $630.65.

Intuit (NASDAQ:INTU) last released its 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. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Analyst Ratings Changes

INTU has been the topic of a number of research analyst reports. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Jefferies Financial Group upped 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. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Barclays boosted their target price on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $737.06.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by company 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.