Intuit Inc. (NASDAQ:INTU) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 21.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,752 shares of the software maker’s stock after selling 465 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Intuit were worth $1,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new stake in Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC purchased a new position in shares of Intuit during the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 8.1%

NASDAQ INTU opened at $720.13 on Monday. The business has a fifty day moving average price of $616.76 and a 200 day moving average price of $620.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $201.32 billion, a P/E ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a one year low of $532.65 and a one year high of $734.18.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.88 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,696 shares of company stock valued at $14,347,731. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on INTU. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. HSBC raised shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. BMO Capital Markets restated an “outperform” rating and issued a $820.00 price target (up previously from $714.00) on shares of Intuit in a research note on Friday. Finally, Evercore ISI upped their price target on Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

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.