Intuit Inc. (NASDAQ:INTU) is HFR Wealth Management LLC’s 8th Largest Position

HFR Wealth Management LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,339 shares of the software maker’s stock after selling 94 shares during the quarter. Intuit makes up 3.6% of HFR Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. HFR Wealth Management LLC’s holdings in Intuit were worth $14,669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. R Squared Ltd purchased a new stake in Intuit in the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new stake in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the fourth quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in Intuit in the fourth quarter valued at approximately $29,000. Finally, Denver PWM LLC purchased a new stake in Intuit in the third quarter valued at approximately $32,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Down 2.1 %

INTU opened at $601.09 on Tuesday. The stock has a market capitalization of $168.04 billion, a PE ratio of 58.36, a P/E/G ratio of 2.85 and a beta of 1.24. The firm’s fifty day moving average price is $605.15 and its 200 day moving average price is $626.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio is presently 38.81%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % 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, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,460 shares of company stock valued at $144,750,747 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup lowered their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.50.

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.