Asset Advisors Investment Management LLC Has $39.24 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Asset Advisors Investment Management LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,181 shares of the software maker's stock after selling 868 shares during the period. Intuit accounts for approximately 4.1% of Asset Advisors Investment Management LLC's portfolio, making the stock its 5th largest holding. Asset Advisors Investment Management LLC's holdings in Intuit were worth $39,235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harvest Portfolios Group Inc. grew its position in shares of Intuit by 5.4% in the 3rd 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 period. GAMMA Investing LLC increased its position in Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker's stock valued at $2,383,000 after acquiring an additional 968 shares during the last quarter. Retireful LLC purchased a new stake in Intuit during the third quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intuit during the third quarter valued at $56,144,000. Finally, Howe & Rusling Inc. raised its holdings in Intuit by 8.0% during the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker's stock valued at $6,742,000 after acquiring an additional 808 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Trading Down 2.4 %

INTU stock traded down $15.80 during mid-day trading on Friday, reaching $656.45. 1,634,650 shares of the stock traded hands, compared to its average volume of 1,367,414. 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 cap of $183.75 billion, a P/E ratio of 65.27, a P/E/G ratio of 3.31 and a beta of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock's fifty day moving average is $639.04 and its 200-day moving average is $631.28.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 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 for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, January 9th. Intuit's dividend payout ratio is currently 40.39%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,732 shares of company stock worth $81,378,070 in the last 90 days. Corporate insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a research report on Friday, November 22nd. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Finally, Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $737.44.

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.