Biltmore Family Office LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Biltmore Family Office LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,609 shares of the software maker’s stock after buying an additional 32 shares during the quarter. Biltmore Family Office LLC’s holdings in Intuit were worth $2,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. Harvest Portfolios Group Inc. grew its holdings in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares in the last quarter. Retireful LLC purchased a new position in Intuit in the third quarter valued at $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit in the third quarter valued at $56,144,000. Finally, Cetera Advisors LLC lifted its holdings in Intuit by 33.4% during the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after buying an additional 2,655 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on INTU. BMO Capital Markets increased their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley increased 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. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Scotiabank started coverage on Intuit in a report on Monday. They set a “sector perform” rating and a $700.00 price objective on the stock. Finally, Bank of America boosted their target price 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $739.39.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 14.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU opened at $679.40 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $635.12 and its two-hundred day moving average is $631.23. The stock has a market capitalization of $190.31 billion, a price-to-earnings ratio of 65.01, a PEG ratio of 3.15 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. Research analysts expect that Intuit Inc. will post 14.05 EPS for the current 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.