Illinois Municipal Retirement Fund Sells 9,474 Shares of Intuit Inc. (NASDAQ:INTU)

Illinois Municipal Retirement Fund decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 36.5% in the 4th quarter, HoldingsChannel reports. The firm owned 16,493 shares of the software maker’s stock after selling 9,474 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Intuit were worth $10,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewSquare Capital LLC bought a new stake in Intuit during the third quarter worth about $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit in the third quarter worth about $26,000. MCF Advisors LLC lifted its holdings in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Steward Financial Group LLC lifted its holdings in shares of Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after acquiring an additional 20 shares during the last quarter. Finally, Aspire Private Capital LLC lifted its holdings in shares of Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after acquiring an additional 39 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 3.4 %

Shares of Intuit stock traded up $20.80 on Tuesday, reaching $630.57. 465,061 shares of the company’s stock were exchanged, compared to its average volume of 1,235,687. The company has a market capitalization of $176.56 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 3.68 and a beta of 1.21. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The firm’s 50-day moving average is $641.98 and its two-hundred day moving average is $600.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. Sell-side analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Mizuho increased their target price on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Stifel Nicolaus increased their target price on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Barclays increased their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. KeyCorp upped their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, Piper Sandler upped their price objective on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $645.00.

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.