Forte Capital LLC ADV Sells 833 Shares of Intuit Inc. (NASDAQ:INTU)

Forte Capital LLC ADV lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,266 shares of the software maker’s stock after selling 833 shares during the quarter. Intuit comprises 1.9% of Forte Capital LLC ADV’s portfolio, making the stock its 13th largest holding. Forte Capital LLC ADV’s holdings in Intuit were worth $17,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Intuit during the fourth quarter worth approximately $621,000. Harvest Portfolios Group Inc. lifted its holdings in shares of 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 buying an additional 1,853 shares during the last quarter. Retireful LLC acquired a new position in shares of Intuit during the third quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intuit during the third quarter worth approximately $56,144,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Barclays cut 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. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Oppenheimer upped 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. Finally, Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares in the company, valued at $12,286.92. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

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

Intuit (NASDAQ:INTU) last announced its 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 for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

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.