GM Advisory Group LLC Sells 46 Shares of Intuit Inc. (NASDAQ:INTU)

GM Advisory Group LLC trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,231 shares of the software maker’s stock after selling 46 shares during the period. GM Advisory Group LLC’s holdings in Intuit were worth $2,030,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC increased its holdings 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 in the last quarter. Raymond James Financial Inc. bought a new position in Intuit in the 4th quarter valued at $300,854,000. Holocene Advisors LP boosted its stake in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB grew its holdings 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 purchasing an additional 268,060 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its stake in shares of Intuit by 20.7% in the fourth quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock valued at $898,344,000 after buying an additional 245,372 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated 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 owns 35,776 shares in the company, valued at $22,542,457.60. The trade was a 67.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,646 shares of company stock valued at $72,494,045. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

INTU opened at $599.03 on Wednesday. The firm’s fifty day moving average is $597.44 and its two-hundred day moving average is $623.29. The firm has a market cap of $167.47 billion, a PE ratio of 58.16, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. 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%.

Wall Street Analyst Weigh In

INTU has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Redburn Atlantic assumed coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. BMO Capital Markets decreased their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup dropped their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.