State of Tennessee Treasury Department lessened its stake in Intuit Inc. (NASDAQ:INTU) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,114 shares of the software maker’s stock after selling 2,529 shares during the quarter. State of Tennessee Treasury Department’s holdings in Intuit were worth $31,723,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Intuit by 2.5% in the second quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock valued at $5,401,090,000 after purchasing an additional 503,291 shares in the last quarter. State Street Corp lifted its holdings in shares of Intuit by 0.8% in the fourth quarter. State Street Corp now owns 11,251,797 shares of the software maker’s stock valued at $2,947,183,000 after purchasing an additional 88,399 shares in the last quarter. Lindsell Train Ltd lifted its holdings in Intuit by 8.5% during the fourth quarter. Lindsell Train Ltd now owns 2,743,100 shares of the software maker’s stock worth $718,500,000 after acquiring an additional 214,021 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Intuit by 2.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,267,831 shares of the software maker’s stock worth $603,107,000 after acquiring an additional 49,351 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in Intuit by 23.2% during the third quarter. Voya Investment Management LLC now owns 1,406,961 shares of the software maker’s stock worth $374,166,000 after acquiring an additional 264,527 shares during the period. Institutional investors own 86.51% of the company’s stock.
INTU has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on Intuit from $260.00 to $290.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Zacks Investment Research lowered Intuit from a “buy” rating to a “hold” rating and set a $280.00 price target on the stock. in a report on Monday, December 30th. KeyCorp lifted their price target on Intuit from $305.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. BidaskClub upgraded Intuit from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Guggenheim reiterated a “buy” rating and set a $320.00 price target on shares of Intuit in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $289.61.
In other news, Chairman Scott D. Cook sold 73,357 shares of Intuit stock in a transaction on Monday, December 9th. The stock was sold at an average price of $256.08, for a total value of $18,785,260.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Scott D. Cook sold 112,022 shares of Intuit stock in a transaction on Friday, December 20th. The shares were sold at an average price of $266.16, for a total value of $29,815,775.52. The disclosure for this sale can be found here. Insiders sold 527,369 shares of company stock valued at $136,763,551 over the last three months. Company insiders own 4.09% of the company’s stock.
NASDAQ:INTU traded up $6.46 during trading hours on Friday, reaching $304.30. The stock had a trading volume of 76,690 shares, compared to its average volume of 1,168,938. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a 50 day simple moving average of $279.27 and a 200 day simple moving average of $270.37. Intuit Inc. has a 12-month low of $226.51 and a 12-month high of $300.55. The stock has a market cap of $77.50 billion, a P/E ratio of 50.80, a price-to-earnings-growth ratio of 3.01 and a beta of 1.03.
Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.16. Intuit had a return on equity of 42.04% and a net margin of 22.79%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Friday, January 10th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Thursday, January 9th. Intuit’s dividend payout ratio is currently 37.99%.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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