Guinness Atkinson Asset Management Inc Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

Guinness Atkinson Asset Management Inc cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,859 shares of the software maker's stock after selling 753 shares during the quarter. Intuit accounts for about 3.5% of Guinness Atkinson Asset Management Inc's portfolio, making the stock its 14th largest position. Guinness Atkinson Asset Management Inc's holdings in Intuit were worth $6,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in INTU. International Assets Investment Management LLC lifted its holdings in shares of Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker's stock worth $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP raised its position in Intuit by 99.6% during the 3rd 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 lifted its holdings in Intuit by 83.2% during the 4th 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 period. Ameriprise Financial Inc. grew its position in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker's stock valued at $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock valued at $7,648,910,000 after buying an additional 221,885 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 0.5 %

NASDAQ INTU traded down $3.14 on Monday, reaching $604.13. The company had a trading volume of 2,830,783 shares, compared to its average volume of 1,248,995. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company's fifty day moving average is $646.09 and its 200 day moving average is $636.77. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm's revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $1.14 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit's payout ratio is 40.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTU. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. 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 research report on Friday, November 22nd. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $726.53.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company's stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. Company insiders own 2.68% of the company's stock.

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.