Apriem Advisors Has $9.92 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Apriem Advisors cut its position in Intuit Inc. (NASDAQ:INTU) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,778 shares of the software maker’s stock after selling 360 shares during the quarter. Intuit comprises approximately 1.1% of Apriem Advisors’ holdings, making the stock its 27th biggest position. Apriem Advisors’ holdings in Intuit were worth $9,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake 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 worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in Intuit during the fourth quarter worth about $621,000. Harvest Portfolios Group Inc. increased its position in Intuit by 5.4% during the third 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 last quarter. Retireful LLC bought a new stake in Intuit in the third quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuit in the third quarter valued at approximately $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on INTU shares. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $723.76.

Intuit Stock Up 12.6 %

INTU opened at $625.51 on Thursday. The company has a 50 day moving average of $607.22 and a 200 day moving average of $627.53. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a market cap of $175.09 billion, a PE ratio of 60.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 1,300 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the sale, the chief financial officer now directly owns 644 shares in the company, valued at $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock valued at $140,855,687 over the last three months. 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.