State of Alaska Department of Revenue Trims Holdings in Intuit Inc. (NASDAQ:INTU)

State of Alaska Department of Revenue trimmed its position in Intuit Inc. (NASDAQ:INTU) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 40,659 shares of the software maker’s stock after selling 1,845 shares during the quarter. State of Alaska Department of Revenue’s holdings in Intuit were worth $25,412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of INTU. Fairfield Bush & CO. grew its holdings in Intuit by 39.6% during the first quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock worth $1,754,000 after acquiring an additional 1,035 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Intuit by 10.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock worth $242,492,000 after acquiring an additional 48,196 shares during the period. Cetera Investment Advisers grew its holdings in Intuit by 8.4% during the first quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock worth $1,552,000 after acquiring an additional 249 shares during the period. Baird Financial Group Inc. grew its holdings in Intuit by 7.1% in the first quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock valued at $25,825,000 after purchasing an additional 3,576 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Intuit by 6.6% in the first quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock valued at $16,448,000 after purchasing an additional 2,127 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Lauren D. Hotz sold 745 shares of the company’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 sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 14,771 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $589.60, for a total value of $8,708,981.60. Following the completion of the sale, the executive vice president now owns 50,030 shares in the company, valued at $29,497,688. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,260 shares of company stock worth $20,667,475. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on INTU. JPMorgan Chase & Co. raised their price objective on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Barclays raised their price objective on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday. KeyCorp raised their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Susquehanna lifted their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Trading Up 0.2 %

NASDAQ:INTU traded up $1.26 on Friday, hitting $650.00. The stock had a trading volume of 1,163,442 shares, compared to its average volume of 1,288,507. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $182 billion, a price-to-earnings ratio of 66.33, a PEG ratio of 3.95 and a beta of 1.22. The company has a fifty day moving average price of $647.51 and a two-hundred day moving average price of $587.75. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01.

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

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio is currently 36.73%.

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.