State of Alaska Department of Revenue Sells 3,742 Shares of Intuit Inc. (NASDAQ:INTU)

State of Alaska Department of Revenue reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 10.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 31,962 shares of the software maker’s stock after selling 3,742 shares during the period. State of Alaska Department of Revenue’s holdings in Intuit were worth $20,088,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Czech National Bank lifted its holdings in shares of Intuit by 6.7% in the third quarter. Czech National Bank now owns 56,946 shares of the software maker’s stock valued at $35,363,000 after purchasing an additional 3,594 shares in the last quarter. Brookstone Capital Management lifted its stake in Intuit by 1.8% in the 3rd quarter. Brookstone Capital Management now owns 2,020 shares of the software maker’s stock valued at $1,254,000 after acquiring an additional 35 shares in the last quarter. Hoxton Planning & Management LLC boosted its position in Intuit by 4.2% during the 3rd quarter. Hoxton Planning & Management LLC now owns 1,310 shares of the software maker’s stock worth $814,000 after acquiring an additional 53 shares during the last quarter. Barlow Wealth Partners Inc. grew its stake in shares of Intuit by 1.8% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 16,788 shares of the software maker’s stock worth $10,114,000 after acquiring an additional 300 shares in the last quarter. Finally, Eagle Wealth Strategies LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $278,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.6 %

Shares of Intuit stock opened at $588.26 on Thursday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market cap of $164.67 billion, a PE ratio of 57.11, a PEG ratio of 2.96 and a beta of 1.25. The firm has a 50-day moving average of $629.33 and a 200-day moving average of $632.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given 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 was Friday, January 10th. Intuit’s payout ratio is presently 40.39%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. One investment 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. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

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.