SGL Investment Advisors Inc. Sells 681 Shares of Intuit Inc. (NASDAQ:INTU)

SGL Investment Advisors Inc. cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 65.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354 shares of the software maker's stock after selling 681 shares during the period. SGL Investment Advisors Inc.'s holdings in Intuit were worth $204,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Whalen Wealth Management Inc. purchased a new stake in Intuit during the fourth quarter valued at approximately $621,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after buying an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. raised its holdings in Intuit by 3.8% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock valued at $27,223,000 after buying an additional 1,602 shares during the period. Hantz Financial Services Inc. lifted its position in Intuit by 10.2% in the fourth quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker's stock worth $13,906,000 after buying an additional 2,055 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC purchased a new position in Intuit during the fourth quarter worth $109,988,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This represents a 27.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares of the company's stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 over the last 90 days. Corporate insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Piper Sandler reissued an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Jefferies Financial Group decreased their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

Intuit Trading Up 1.3%

NASDAQ INTU opened at $661.31 on Friday. Intuit Inc. has a one year low of $532.65 and a one year 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. The company has a market capitalization of $184.88 billion, a price-to-earnings ratio of 64.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company's 50-day simple moving average is $606.77 and its two-hundred day simple moving average is $618.84.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's payout ratio is 38.81%.

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.

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