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

GKV Capital Management Co. Inc. bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 170 shares of the software maker’s stock, valued at approximately $107,000.

Several other hedge funds also recently made changes to their positions in the business. Osterweis Capital Management Inc. boosted its stake in shares of Intuit by 0.4% during the 4th quarter. Osterweis Capital Management Inc. now owns 42,977 shares of the software maker’s stock valued at $27,011,000 after buying an additional 189 shares during the period. Farringdon Capital Ltd. bought a new position in Intuit in the 4th quarter worth $490,000. Garden State Investment Advisory Services LLC lifted its position in shares of Intuit by 2.3% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 1,255 shares of the software maker’s stock worth $790,000 after purchasing an additional 28 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Intuit by 6.4% during the fourth quarter. NewEdge Advisors LLC now owns 29,900 shares of the software maker’s stock worth $18,792,000 after buying an additional 1,786 shares during the last quarter. Finally, Everest Management Corp. bought a new stake in Intuit in the 4th quarter valued at $5,983,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INTU. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. 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 research report on Friday, April 11th. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Citigroup cut their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One investment 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 MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $713.00.

Intuit Price Performance

Shares of INTU opened at $588.08 on Thursday. 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 stock has a market cap of $164.40 billion, a PE ratio of 57.10, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The firm’s 50-day simple moving average is $592.07 and its two-hundred day simple moving average is $616.88. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is 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.