Crestwood Advisors Group LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Crestwood Advisors Group LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,043 shares of the software maker’s stock after acquiring an additional 380 shares during the period. Crestwood Advisors Group LLC’s holdings in Intuit were worth $1,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB grew its position in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the fourth quarter valued at approximately $621,000. Harvest Portfolios Group Inc. grew its holdings in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares during the last quarter. Retireful LLC bought a new stake in shares of Intuit during the third quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Intuit during the third quarter valued at approximately $56,144,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INTU. Piper Sandler reiterated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Morgan Stanley boosted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.71.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,014 shares of company stock worth $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.3 %

Shares of INTU stock opened at $567.24 on Tuesday. 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 has a market cap of $158.78 billion, a price-to-earnings ratio of 55.07, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm has a fifty day moving average price of $610.15 and a 200-day moving average price of $628.07.

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.