State of Alaska Department of Revenue trimmed its position in Intuit Inc. (NASDAQ:INTU – Get Rating) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,197 shares of the software maker’s stock after selling 250 shares during the quarter. State of Alaska Department of Revenue’s holdings in Intuit were worth $22,650,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Intuit in the third quarter worth $25,000. SRS Capital Advisors Inc. increased its position in Intuit by 81.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock valued at $29,000 after purchasing an additional 34 shares during the period. MinichMacGregor Wealth Management LLC purchased a new position in Intuit during the 4th quarter valued at $42,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Intuit during the 3rd quarter valued at $49,000. Finally, Eagle Bay Advisors LLC purchased a new position in Intuit during the 2nd quarter valued at $52,000. 82.65% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Intuit
In other Intuit news, CFO Michelle M. Clatterbuck sold 545 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $421.38, for a total transaction of $229,652.10. Following the transaction, the chief financial officer now owns 1,350 shares in the company, valued at approximately $568,863. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Michelle M. Clatterbuck sold 545 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $421.38, for a total value of $229,652.10. Following the transaction, the chief financial officer now owns 1,350 shares in the company, valued at approximately $568,863. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Alexander Chriss sold 597 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $400.00, for a total transaction of $238,800.00. Following the completion of the transaction, the executive vice president now owns 344 shares in the company, valued at approximately $137,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,925 shares of company stock worth $3,258,123. Company insiders own 3.18% of the company’s stock.
Intuit Stock Down 1.1 %
Intuit (NASDAQ:INTU – Get Rating) last posted its earnings results on Thursday, February 23rd. The software maker reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.76. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Intuit had a net margin of 14.22% and a return on equity of 14.89%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. On average, analysts expect that Intuit Inc. will post 9.01 EPS for the current fiscal year.
Intuit Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 18th. Shareholders of record on Monday, April 10th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, April 6th. Intuit’s dividend payout ratio is currently 45.75%.
Analysts Set New Price Targets
A number of research analysts have issued reports on INTU shares. Citigroup boosted their price objective on shares of Intuit from $457.00 to $475.00 and gave the company a “buy” rating in a research report on Monday, February 27th. Piper Sandler boosted their price objective on shares of Intuit from $459.00 to $510.00 and gave the company an “overweight” rating in a research report on Friday, February 24th. KeyCorp boosted their price objective on shares of Intuit from $425.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, January 20th. UBS Group started coverage on shares of Intuit in a research report on Wednesday. They issued a “neutral” rating and a $430.00 target price on the stock. Finally, Credit Suisse Group started coverage on shares of Intuit in a research report on Monday, November 21st. They issued an “outperform” rating and a $500.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $483.53.
Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
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