Intuit Inc. (NASDAQ:INTU) Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 39.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. Nordea Investment Management AB raised its position in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit during the fourth quarter worth about $621,000. Retireful LLC acquired a new position in shares of Intuit during the 3rd quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intuit in the 3rd quarter valued at about $56,144,000. Finally, Howe & Rusling Inc. boosted its holdings in Intuit by 8.0% in the 3rd quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock worth $6,742,000 after buying an additional 808 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INTU shares. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank reduced their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Jefferies Financial Group boosted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Performance

NASDAQ INTU opened at $586.71 on Wednesday. The stock has a fifty day simple moving average of $600.43 and a 200-day simple moving average of $624.29. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $164.02 billion, a PE ratio of 56.96, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78.

Intuit Dividend Announcement

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

Insider Activity

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

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.