Heritage Wealth Advisors Has $794,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Heritage Wealth Advisors trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 18.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,264 shares of the software maker’s stock after selling 287 shares during the period. Heritage Wealth Advisors’ holdings in Intuit were worth $794,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of INTU. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% in the 4th 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 bought a new position in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the 4th quarter worth $29,000. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,896 shares of company stock worth $82,946,716 in the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INTU shares. BMO Capital Markets decreased their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Mizuho increased their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Scotiabank reduced their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 target price (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, five have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Up 0.9 %

Shares of NASDAQ:INTU opened at $618.72 on Wednesday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. 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 business’s 50-day moving average is $595.97 and its 200-day moving average is $622.76. The company has a market capitalization of $172.97 billion, a price-to-earnings ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

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.