Intuit Inc. (NASDAQ:INTU) Holdings Cut by Advisor OS LLC

Advisor OS LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 21.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,499 shares of the software maker’s stock after selling 687 shares during the quarter. Advisor OS LLC’s holdings in Intuit were worth $1,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in Intuit by 6.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 29,307 shares of the software maker’s stock valued at $18,200,000 after buying an additional 1,779 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of Intuit by 73.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,231 shares of the software maker’s stock worth $2,006,000 after acquiring an additional 1,367 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Intuit by 5.4% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 971 shares of the software maker’s stock valued at $603,000 after purchasing an additional 50 shares during the last quarter. Orrstown Financial Services Inc. boosted its stake in Intuit by 40.7% during the 3rd quarter. Orrstown Financial Services Inc. now owns 429 shares of the software maker’s stock valued at $266,000 after purchasing an additional 124 shares during the period. Finally, abrdn plc grew its position in Intuit by 5.2% in the 3rd quarter. abrdn plc now owns 305,977 shares of the software maker’s stock worth $189,984,000 after purchasing an additional 15,251 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the transaction, the executive vice president now owns 33,916 shares in the company, valued at $22,304,518.24. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock valued at $140,855,687 over the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 2.0 %

Intuit stock opened at $555.63 on Wednesday. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $155.53 billion, a price-to-earnings ratio of 53.94, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a 50 day moving average price of $607.70 and a 200 day moving average price of $627.55.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.71.

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.