GC Wealth Management RIA LLC Decreases Stake in Intuit Inc. (NASDAQ:INTU)

GC Wealth Management RIA LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 39.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 749 shares of the software maker’s stock after selling 491 shares during the period. GC Wealth Management RIA LLC’s holdings in Intuit were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC boosted 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 purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the fourth quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on INTU. Mizuho increased their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets cut their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Performance

Shares of INTU stock opened at $586.71 on Wednesday. The stock has a 50 day simple moving average of $600.43 and a 200-day simple moving average of $624.29. The company has a market cap of $164.02 billion, a price-to-earnings ratio of 56.96, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Activity

In related news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 213,111 shares of company stock worth $137,327,184. Company insiders own 2.68% of the company’s stock.

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.