Guinness Atkinson Asset Management Inc Has $6.83 Million Position in Intuit Inc. (NASDAQ:INTU)

Guinness Atkinson Asset Management Inc cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,859 shares of the software maker’s stock after selling 753 shares during the period. Intuit accounts for 3.5% of Guinness Atkinson Asset Management Inc’s portfolio, making the stock its 14th largest holding. Guinness Atkinson Asset Management Inc’s holdings in Intuit were worth $6,825,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Brown Financial Advisors boosted its position in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC lifted its stake in shares of Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares during the last quarter. Aviso Wealth Management boosted its holdings in shares of Intuit by 4.9% during the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after buying an additional 17 shares during the period. CVA Family Office LLC grew its stake in Intuit by 3.3% in the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after buying an additional 17 shares during the last quarter. Finally, Chris Bulman Inc raised its holdings in Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after acquiring an additional 17 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $604.13 on Monday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a market capitalization of $169.11 billion, a price-to-earnings ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $646.09 and its 200 day simple moving average is $636.93.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the company posted $1.14 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a $1.04 dividend. 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 dividend payout ratio (DPR) is currently 40.39%.

Insider Activity

In other Intuit news, CEO Sasan K. Goodarzi sold 26,562 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the completion of the transaction, the chief executive officer now directly owns 37,869 shares in the company, valued at approximately $23,701,828.41. This trade represents a 41.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTU. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group lifted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus decreased their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.