Intuit Inc. (NASDAQ:INTU) Shares Sold by WR Wealth Planners LLC

WR Wealth Planners LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 35.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 941 shares of the software maker’s stock after selling 525 shares during the period. WR Wealth Planners LLC’s holdings in Intuit were worth $591,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in INTU. Proficio Capital Partners LLC boosted its stake in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the period. Holocene Advisors LP boosted its stake in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB boosted its stake in shares of 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 buying an additional 268,060 shares during the period. State Street Corp boosted its stake in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Intuit during the fourth quarter worth about $104,278,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Citigroup reduced their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $717.88.

Intuit Trading Up 2.2 %

Shares of INTU opened at $613.84 on Friday. 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 firm has a 50 day simple moving average of $605.90 and a 200-day simple moving average of $627.25. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The stock has a market cap of $171.82 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is currently 38.81%.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit 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. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 218,014 shares of company stock valued at $140,855,687. 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.