GG Group Ventures LLC Decreases Stake in Intuit Inc. (NASDAQ:INTU)

GG Group Ventures LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 30.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,122 shares of the software maker's stock after selling 496 shares during the quarter. Intuit accounts for approximately 0.9% of GG Group Ventures LLC's portfolio, making the stock its 24th biggest position. GG Group Ventures LLC's holdings in Intuit were worth $705,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Invst LLC acquired a new position in Intuit during the 3rd quarter worth about $203,000. Virtu Financial LLC purchased a new stake in Intuit during the third quarter worth about $7,506,000. Anchor Investment Management LLC boosted its position in Intuit by 6.6% in the 3rd quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker's stock valued at $1,500,000 after buying an additional 150 shares during the period. World Investment Advisors LLC purchased a new position in Intuit in the 3rd quarter valued at approximately $201,000. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of Intuit by 7.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker's stock worth $16,065,000 after acquiring an additional 1,721 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INTU. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Finally, Piper Sandler restated an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit has an average rating of "Moderate Buy" and a consensus target price of $717.53.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. This represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last ninety days. Insiders own 2.68% of the company's stock.

Intuit Stock Performance

NASDAQ:INTU traded up $8.49 during trading hours on Friday, reaching $631.68. 1,367,187 shares of the company's stock were exchanged, compared to its average volume of 1,582,510. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $176.59 billion, a price-to-earnings ratio of 61.33, a P/E/G ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $714.78. The company has a 50-day moving average of $598.96 and a 200 day moving average of $616.36.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 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.