AMG National Trust Bank Sells 114 Shares of Intuit Inc. (NASDAQ:INTU)

AMG National Trust Bank trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,408 shares of the software maker’s stock after selling 114 shares during the period. AMG National Trust Bank’s holdings in Intuit were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Legal & General Group Plc raised its holdings in shares of Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after purchasing an additional 56,370 shares during the period. Capital World Investors grew its holdings in shares of Intuit by 1.0% in the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after purchasing an additional 12,068 shares during the last quarter. Finally, Unisphere Establishment increased its stake in Intuit by 4.2% in the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker’s stock worth $657,210,000 after buying an additional 40,000 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 89.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Stock Down 5.1 %

Intuit stock opened at $644.17 on Wednesday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business has a fifty day moving average price of $634.32 and a 200-day moving average price of $630.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $180.55 billion, a price-to-earnings ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on INTU shares. Scotiabank initiated coverage on shares of Intuit in a research report on Monday. They issued a “sector perform” rating and a $700.00 price objective for the company. BMO Capital Markets increased their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group lifted their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $737.06.

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.