Guinness Atkinson Asset Management Inc Has $6.83 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Guinness Atkinson Asset Management Inc trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 6.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,859 shares of the software maker’s stock after selling 753 shares during the period. Intuit accounts for about 3.5% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 14th largest holding. Guinness Atkinson Asset Management Inc’s holdings in Intuit were worth $6,825,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the 3rd quarter worth approximately $27,000. Denver PWM LLC bought a new position in Intuit during the third quarter worth $32,000. Dunhill Financial LLC lifted its holdings in Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares during the period. Groupama Asset Managment boosted its position in Intuit by 10.6% during the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after acquiring an additional 720 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Intuit in the second quarter worth approximately $49,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $604.13 on Monday. 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 has a market cap of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The stock’s fifty day simple moving average is $646.09 and its two-hundred day simple moving average is $636.93. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INTU shares. Piper Sandler restated an “overweight” rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $726.53.

About Intuit

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.