Intuit Inc. (NASDAQ:INTU) Shares Sold by Garner Asset Management Corp

Garner Asset Management Corp lowered its stake in Intuit Inc. (NASDAQ:INTU) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,648 shares of the software maker’s stock after selling 20 shares during the period. Garner Asset Management Corp’s holdings in Intuit were worth $1,024,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. 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. GAMMA Investing LLC boosted its position in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares in the last quarter. Retireful LLC purchased a new stake in Intuit during the third quarter worth $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit during the third quarter worth $56,144,000. Finally, Cetera Advisors LLC boosted its position in Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $640.12 on Friday. The firm has a market capitalization of $179.31 billion, a PE ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50-day moving average of $634.81 and a two-hundred day moving average of $631.20. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. As a group, research analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last three months. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler decreased their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $737.44.

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.