Intuit Inc. (NASDAQ:INTU) Shares Sold by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. lessened its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 142,848 shares of the software maker's stock after selling 948 shares during the quarter. Intuit accounts for about 4.4% of Bristol Gate Capital Partners Inc.'s portfolio, making the stock its 15th largest holding. Bristol Gate Capital Partners Inc. owned about 0.05% of Intuit worth $89,780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. R Squared Ltd purchased a new position in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new position in Intuit during the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. 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. Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Finally, Piper Sandler reissued an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $713.56.

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Intuit Stock Up 1.7 %

INTU traded up $9.57 on Friday, reaching $587.04. The company's stock had a trading volume of 1,479,882 shares, compared to its average volume of 1,567,880. The company has a market capitalization of $164.11 billion, a price-to-earnings ratio of 56.99, a P/E/G ratio of 2.85 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. 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 50 day moving average of $591.70 and a two-hundred day moving average of $617.55.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend 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 Activity at Intuit

In related news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company's stock, 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 through the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 in the last ninety days. 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.