Wealth Architects LLC Sells 91 Shares of Intuit Inc. (NASDAQ:INTU)

Wealth Architects LLC decreased its stake in Intuit Inc. (NASDAQ:INTU) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,179 shares of the software maker’s stock after selling 91 shares during the period. Wealth Architects LLC’s holdings in Intuit were worth $741,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brown Financial Advisors lifted its holdings in shares of Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC boosted its stake in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares in the last quarter. True North Advisors LLC boosted its stake in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC boosted its stake in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of Intuit by 1.8% in the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock valued at $626,000 after purchasing an additional 18 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 in the last quarter. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $598.80 on Monday. The company has a fifty day moving average of $598.23 and a 200-day moving average of $623.66. The firm has a market capitalization of $167.40 billion, a P/E ratio of 58.14, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s dividend payout ratio is currently 38.81%.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research analyst reports. Scotiabank reduced their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group raised their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. BMO Capital Markets dropped their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $721.61.

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.