Intuit Inc. (NASDAQ:INTU) Stock Position Lessened by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,848 shares of the software maker’s stock after selling 948 shares during the period. Intuit makes up 4.4% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 15th biggest position. Bristol Gate Capital Partners Inc. owned about 0.05% of Intuit worth $89,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of Intuit in the 4th quarter worth $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Intuit in the fourth quarter valued at $28,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

INTU opened at $561.53 on Monday. 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 company’s 50 day simple moving average is $595.64 and its 200-day simple moving average is $620.70. Intuit Inc. has a one year low of $533.55 and a one year high of $714.78. The stock has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research report on Wednesday, February 26th. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $718.00.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 1,300 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at approximately $403,414.48. The trade was a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,862 shares of company stock valued at $18,767,673. 2.68% of the stock is currently owned by insiders.

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.