Intuit Inc. (NASDAQ:INTU) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,266 shares of the software maker’s stock after selling 833 shares during the period. Intuit makes up approximately 1.9% of Forte Capital LLC ADV’s investment portfolio, making the stock its 13th largest holding. Forte Capital LLC ADV’s holdings in Intuit were worth $17,137,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of INTU. Nordea Investment Management AB grew its holdings in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new position in Intuit during the fourth quarter worth about $621,000. Harvest Portfolios Group Inc. grew its holdings in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the period. Retireful LLC acquired a new position in Intuit during the third quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Intuit during the third quarter worth about $56,144,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 0.5 %

NASDAQ:INTU opened at $579.08 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock’s 50-day moving average is $614.05 and its two-hundred day moving average is $628.50. The stock has a market cap of $162.10 billion, a PE ratio of 56.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’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 value of $15,856,983.80. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by corporate 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.