Sunbelt Securities Inc. Has $677,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sunbelt Securities Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 51.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,075 shares of the software maker's stock after selling 1,152 shares during the quarter. Sunbelt Securities Inc.'s holdings in Intuit were worth $677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INTU. Janney Montgomery Scott LLC lifted its stake in Intuit by 25.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 39,268 shares of the software maker's stock valued at $24,680,000 after buying an additional 7,863 shares in the last quarter. Mutual Advisors LLC lifted its stake in Intuit by 4.6% in the fourth quarter. Mutual Advisors LLC now owns 2,813 shares of the software maker's stock valued at $1,708,000 after buying an additional 123 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Intuit by 227.9% in the fourth quarter. Avior Wealth Management LLC now owns 564 shares of the software maker's stock valued at $355,000 after buying an additional 392 shares in the last quarter. Brighton Jones LLC lifted its stake in Intuit by 61.3% in the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after buying an additional 1,350 shares in the last quarter. Finally, Benin Management CORP lifted its stake in Intuit by 8.6% in the fourth quarter. Benin Management CORP now owns 453 shares of the software maker's stock valued at $285,000 after buying an additional 36 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of INTU traded up $2.49 during trading hours on Wednesday, hitting $754.45. The company had a trading volume of 2,501,896 shares, compared to its average volume of 1,628,758. The firm has a market cap of $210.92 billion, a price-to-earnings ratio of 73.25, a PEG ratio of 2.85 and a beta of 1.24. The business has a fifty day moving average of $622.13 and a 200-day moving average of $621.81. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $774.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion for 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 was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $9.88 earnings per share. Equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity

In related news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on INTU. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. UBS Group set a $750.00 target price on shares of Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and set a $785.00 target price (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. Finally, KeyCorp restated an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $785.33.

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.