Garner Asset Management Corp Trims Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Garner Asset Management Corp lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 1.2% in the third quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new position in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 over the last three months. Company insiders own 2.90% of the company’s stock.

Intuit Stock Down 5.7 %

INTU opened at $640.12 on Friday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock’s fifty day moving average is $634.81 and its 200-day moving average is $631.20. The company 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.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTU. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday. BMO Capital Markets boosted their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Piper Sandler reduced their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $737.44.

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.