GKV Capital Management Co. Inc. Acquires Shares of 170 Intuit Inc. (NASDAQ:INTU)

GKV Capital Management Co. Inc. bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 170 shares of the software maker’s stock, valued at approximately $107,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Intuit during the fourth quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC boosted its stake in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Intuit during the 4th quarter valued at about $300,854,000. Finally, Vanguard Group Inc. raised its holdings in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on INTU shares. Scotiabank dropped their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Jefferies Financial Group reduced their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Mizuho raised their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $713.00.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares of the company’s stock, valued at $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 23,696 shares of company stock valued at $14,347,731 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 1.0 %

NASDAQ:INTU opened at $588.08 on Thursday. The firm has a market cap of $164.40 billion, a P/E ratio of 57.10, a PEG ratio of 2.85 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The stock’s 50 day simple moving average is $592.07 and its 200-day simple moving average is $616.88.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.71%. Intuit’s payout ratio is currently 38.81%.

Intuit Company 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.