Apriem Advisors Sells 360 Shares of Intuit Inc. (NASDAQ:INTU)

Apriem Advisors decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 15,778 shares of the software maker’s stock after selling 360 shares during the period. Intuit comprises 1.1% of Apriem Advisors’ investment portfolio, making the stock its 27th largest holding. Apriem Advisors’ holdings in Intuit were worth $9,917,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of INTU. Holocene Advisors LP lifted its stake in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. State Street Corp lifted its position in Intuit by 1.8% in the 3rd 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 last quarter. Union Bancaire Privee UBP SA purchased a new stake in Intuit in the fourth quarter worth approximately $104,278,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Intuit by 85.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 358,834 shares of the software maker’s stock valued at $222,836,000 after acquiring an additional 165,805 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock worth $140,855,687 over the last three months. Company insiders own 2.68% of the company’s stock.

Intuit Trading Up 12.6 %

NASDAQ:INTU opened at $625.51 on Thursday. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. 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 50-day moving average price of $607.22 and a 200-day moving average price of $627.53. The stock has a market cap of $175.09 billion, a price-to-earnings ratio of 60.73, a P/E/G ratio of 2.85 and a beta of 1.24.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $723.76.

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.