Greykasell Wealth Strategies Inc. Makes New $1.20 Million Investment in Intuit Inc. (NASDAQ:INTU)

Greykasell Wealth Strategies Inc. bought a new position in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,906 shares of the software maker’s stock, valued at approximately $1,198,000.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC increased its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Intuit during the fourth quarter valued at $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTU. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Scotiabank lowered their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This represents a 67.70 % 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. Insiders own 2.68% of the company’s stock.

Intuit Stock Up 3.0 %

Intuit stock opened at $598.80 on Friday. The firm’s 50 day moving average price is $598.23 and its two-hundred day moving average price is $623.63. The firm 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. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s dividend payout ratio is 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.