Intuit Inc. (NASDAQ:INTU) Stock Position Lowered by GG Group Ventures LLC

GG Group Ventures LLC lessened its position in Intuit Inc. (NASDAQ:INTU) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,618 shares of the software maker’s stock after selling 95 shares during the quarter. Intuit makes up about 1.5% of GG Group Ventures LLC’s holdings, making the stock its 16th biggest holding. GG Group Ventures LLC’s holdings in Intuit were worth $1,005,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC purchased a new stake in Intuit in the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC purchased a new stake in Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit in the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction dated 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 transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. This trade represents a 99.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,032 shares of company stock valued at $76,314,242. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Barclays dropped their price target 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. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

NASDAQ INTU opened at $646.58 on Tuesday. 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 market capitalization of $180.99 billion, a price-to-earnings ratio of 62.77, a P/E/G ratio of 3.19 and a beta of 1.25. The company’s fifty day moving average is $635.59 and its two-hundred day moving average is $630.43. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. Equities research analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

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.