Gulf International Bank UK Ltd Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Gulf International Bank UK Ltd reduced its stake in Intuit Inc. (NASDAQ:INTU) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,722 shares of the software maker’s stock after selling 241 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Intuit were worth $13,652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $29,000. Finally, Denver PWM LLC purchased a new stake in shares of Intuit in the third quarter valued at approximately $32,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on INTU. Piper Sandler reiterated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Morgan Stanley raised 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. Finally, Stifel Nicolaus cut their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $723.76.

Intuit Stock Performance

Shares of Intuit stock opened at $625.51 on Thursday. The firm has a market capitalization of $175.09 billion, a P/E ratio of 60.73, a P/E/G ratio of 2.85 and a beta of 1.24. The company’s 50 day moving average price is $607.22 and its two-hundred day moving average price is $627.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $12,286.92. This represents a 99.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 over the last quarter. Company 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.