Heritage Wealth Advisors Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Heritage Wealth Advisors cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,264 shares of the software maker’s stock after selling 287 shares during the period. Heritage Wealth Advisors’ holdings in Intuit were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of INTU. R Squared Ltd bought a new position in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC increased its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Intuit in the fourth quarter valued at approximately $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on INTU. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Scotiabank decreased their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Mizuho raised 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Trading Up 0.9 %

Shares of INTU stock opened at $618.72 on Wednesday. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The business’s fifty day moving average is $595.97 and its 200 day moving average is $622.76. 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 $172.97 billion, a PE ratio of 60.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’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 completion of the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,896 shares of company stock worth $82,946,716. Insiders own 2.68% of the company’s stock.

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.