Intuit Inc. (NASDAQ:INTU) Stake Trimmed by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 21.4% during the fourth quarter, Holdings Channel reports. The fund owned 895 shares of the software maker’s stock after selling 243 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in Intuit were worth $563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the period. Geode Capital Management LLC lifted its stake in Intuit by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after acquiring an additional 80,463 shares in the last quarter. Fisher Asset Management LLC boosted its position in Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares during the period. Bank of New York Mellon Corp grew its stake in Intuit by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after acquiring an additional 88,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % 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 worth $140,855,687 in the last quarter. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on INTU shares. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. 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. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $726.71.

Intuit Trading Up 0.3 %

NASDAQ INTU opened at $567.24 on Tuesday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a 50-day simple moving average of $610.15 and a 200 day simple moving average of $628.07. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $158.78 billion, a PE ratio of 55.07, a P/E/G ratio of 2.85 and a beta of 1.24.

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.