Gen Wealth Partners Inc Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Gen Wealth Partners Inc boosted its stake in Intuit Inc. (NASDAQ:INTU) by 29.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,235 shares of the software maker’s stock after purchasing an additional 281 shares during the period. Gen Wealth Partners Inc’s holdings in Intuit were worth $776,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of INTU. R Squared Ltd bought a new stake in Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit in the fourth quarter worth about $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group cut their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Oppenheimer cut their price target on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Citigroup cut their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $717.53.

Intuit Price Performance

Shares of INTU opened at $653.88 on Friday. The company has a market capitalization of $182.80 billion, a P/E ratio of 63.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78. 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 50 day moving average of $602.37 and a 200 day moving average of $617.42.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Activity

In other news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 6,446 shares of the 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 in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last ninety days. 2.68% of the stock is currently owned by corporate 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.