Gen Wealth Partners Inc Purchases 281 Shares of Intuit Inc. (NASDAQ:INTU)

Gen Wealth Partners Inc lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 29.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,235 shares of the software maker’s stock after buying an additional 281 shares during the period. Gen Wealth Partners Inc’s holdings in Intuit were worth $776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. ORG Partners LLC raised its holdings in Intuit by 61.2% in the 4th quarter. ORG Partners LLC now owns 224 shares of the software maker’s stock worth $141,000 after purchasing an additional 85 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Intuit by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,600 shares of the software maker’s stock worth $18,382,000 after buying an additional 293 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Intuit by 2.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 3,353 shares of the software maker’s stock worth $2,107,000 after buying an additional 76 shares during the period. Jacobs & Co. CA lifted its position in shares of Intuit by 2.8% during the 4th quarter. Jacobs & Co. CA now owns 13,348 shares of the software maker’s stock valued at $8,389,000 after buying an additional 359 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. grew its stake in shares of Intuit by 2.0% during the 4th quarter. Tilia Fiduciary Partners Inc. now owns 3,075 shares of the software maker’s stock valued at $1,933,000 after acquiring an additional 59 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $653.88 on Friday. The firm has a fifty day simple moving average of $602.37 and a two-hundred day simple moving average of $617.42. 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 stock has a market capitalization of $182.80 billion, a P/E ratio of 63.48, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78.

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction 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. The trade was a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53 % 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 worth $14,347,731 over the last ninety days. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Scotiabank raised shares of Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Citigroup lowered 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. HSBC raised shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $717.53.

Intuit Company 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.