Biltmore Family Office LLC Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

Biltmore Family Office LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,609 shares of the software maker’s stock after buying an additional 32 shares during the quarter. Biltmore Family Office LLC’s holdings in Intuit were worth $2,862,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on INTU. Scotiabank began coverage on shares of Intuit in a report on Monday. They set a “sector perform” rating and a $700.00 price objective on the stock. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday. Stifel Nicolaus lifted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Finally, Jefferies Financial Group lifted their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $739.39.

Intuit Trading Up 4.4 %

INTU opened at $679.40 on Friday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The business’s 50 day moving average price is $635.12 and its 200 day moving average price is $631.23. The stock has a market capitalization of $190.31 billion, a PE ratio of 65.01, a P/E/G ratio of 3.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the company earned $1.14 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Insider Transactions at Intuit

In other news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by insiders.

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.