Intuit Inc. $INTU Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,593 shares of the software maker’s stock after selling 392 shares during the quarter. Intuit makes up approximately 1.2% of Howe & Rusling Inc.’s investment portfolio, making the stock its 21st largest position. Howe & Rusling Inc.’s holdings in Intuit were worth $16,219,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Brighton Jones LLC lifted its position in shares of Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after purchasing an additional 482 shares during the last quarter. Wealth Group Ltd. acquired a new position in shares of Intuit in the 1st quarter valued at $493,000. Nicholas Hoffman & Company LLC. acquired a new stake in Intuit during the 1st quarter worth $785,564,000. Finally, PFG Advisors lifted its stake in Intuit by 38.8% in the first quarter. PFG Advisors now owns 4,220 shares of the software maker’s stock valued at $2,591,000 after buying an additional 1,179 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on INTU shares. KeyCorp decreased their target price on Intuit from $850.00 to $825.00 and set an “overweight” rating on the stock in a research report on Friday, August 22nd. Evercore ISI reiterated an “outperform” rating and issued a $875.00 price objective on shares of Intuit in a report on Tuesday. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Zacks Research downgraded shares of Intuit from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intuit in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $799.35.

Intuit Price Performance

Shares of Intuit stock opened at $650.62 on Thursday. The firm’s 50-day moving average price is $666.42 and its two-hundred day moving average price is $707.07. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The stock has a market capitalization of $181.40 billion, a price-to-earnings ratio of 47.35, a P/E/G ratio of 2.53 and a beta of 1.25. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm posted $1.99 earnings per share. The company’s revenue was up 20.3% on a year-over-year basis. On average, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $661.15, for a total transaction of $220,162.95. Following the completion of the sale, the director directly owned 14,475 shares of the company’s stock, valued at $9,570,146.25. The trade was a 2.25% 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, Director Scott D. Cook sold 529 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $664.99, for a total transaction of $351,779.71. Following the completion of the sale, the director directly owned 6,162,547 shares of the company’s stock, valued at $4,098,032,129.53. The trade was a 0.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,407 shares of company stock valued at $1,614,913 in the last 90 days. 2.68% of the stock is owned by company insiders.

About Intuit

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.