Wealth Architects LLC Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Wealth Architects LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,179 shares of the software maker’s stock after selling 91 shares during the quarter. Wealth Architects LLC’s holdings in Intuit were worth $741,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of INTU. R Squared Ltd purchased a new position in Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the 4th quarter worth about $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INTU shares. 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 report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a report on Wednesday, February 26th. Stifel Nicolaus cut their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock 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 assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Up 3.0 %

Shares of INTU opened at $598.80 on Monday. The business’s 50-day moving average price is $598.23 and its 200-day moving average price is $623.66. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The stock has a market cap of $167.40 billion, a PE ratio of 58.14, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was 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. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,301 shares of company stock valued at $121,470,200. 2.68% of the stock is owned by corporate insiders.

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.