Cumberland Partners Ltd Sells 1,750 Shares of Intuit Inc. (NASDAQ:INTU)

Cumberland Partners Ltd cut its holdings in Intuit Inc. (NASDAQ:INTU) by 63.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,000 shares of the software maker’s stock after selling 1,750 shares during the period. Cumberland Partners Ltd’s holdings in Intuit were worth $628,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Freedom Day Solutions LLC raised its stake in Intuit by 2.3% during the 4th quarter. Freedom Day Solutions LLC now owns 4,282 shares of the software maker’s stock valued at $2,691,000 after purchasing an additional 96 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Intuit by 6.9% during the 4th quarter. Private Advisor Group LLC now owns 8,998 shares of the software maker’s stock worth $5,655,000 after purchasing an additional 581 shares during the period. Alberta Investment Management Corp acquired a new position in shares of Intuit during the fourth quarter valued at about $10,757,000. Lyell Wealth Management LP raised its position in shares of Intuit by 1.6% during the fourth quarter. Lyell Wealth Management LP now owns 31,234 shares of the software maker’s stock valued at $19,631,000 after buying an additional 501 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Intuit by 2.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,848 shares of the software maker’s stock valued at $1,161,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was 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. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.5 %

Shares of INTU opened at $579.08 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $162.10 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 2.86 and a beta of 1.24. The stock has a fifty day moving average price of $614.05 and a two-hundred day moving average price of $628.50. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on INTU. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Redburn Atlantic started coverage on Intuit in a research report on Wednesday. They issued a “neutral” rating for the company. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $726.53.

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.