Accretive Wealth Partners LLC Sells 17 Shares of Intuit Inc. (NASDAQ:INTU)

Accretive Wealth Partners LLC lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,853 shares of the software maker’s stock after selling 17 shares during the period. Accretive Wealth Partners LLC’s holdings in Intuit were worth $1,151,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of INTU. International Assets Investment Management LLC increased its position in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Intuit during the second quarter worth $184,982,000. Ameriprise Financial Inc. raised its stake in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares during the period. Finally, Seven Post Investment Office LP bought a new stake in Intuit during the second quarter valued at $107,513,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. Jefferies Financial Group lifted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reduced their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Barclays lifted their price objective on shares of Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $736.89.

Intuit Stock Up 4.4 %

Shares of NASDAQ:INTU opened at $679.40 on Friday. The stock has a market cap of $190.31 billion, a price-to-earnings ratio of 65.01, a PEG ratio of 3.15 and a beta of 1.25. The business’s 50 day moving average is $635.12 and its 200 day moving average is $631.23. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. On average, sell-side analysts forecast that Intuit Inc. will post 14.05 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.