Teachers Retirement System of The State of Kentucky Sells 1,500 Shares of Intuit Inc. (NASDAQ:INTU)


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Teachers Retirement System of The State of Kentucky lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,800 shares of the software maker’s stock after selling 1,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Intuit were worth $8,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MUFG Americas Holdings Corp grew its stake in Intuit by 1,600.0% during the fourth quarter. MUFG Americas Holdings Corp now owns 68 shares of the software maker’s stock valued at $26,000 after acquiring an additional 64 shares in the last quarter. Clearview Wealth Advisors LLC purchased a new position in Intuit during the fourth quarter valued at approximately $29,000. Concord Wealth Partners purchased a new position in Intuit during the fourth quarter valued at approximately $37,000. Capstone Triton Financial Group LLC purchased a new position in Intuit during the fourth quarter valued at approximately $54,000. Finally, Salem Investment Counselors Inc. grew its stake in Intuit by 91.4% during the fourth quarter. Salem Investment Counselors Inc. now owns 155 shares of the software maker’s stock valued at $59,000 after acquiring an additional 74 shares in the last quarter. 84.79% of the stock is currently owned by institutional investors.

NASDAQ:INTU opened at $401.05 on Thursday. The company has a fifty day moving average of $391.35 and a 200 day moving average of $365.48. Intuit Inc. has a 52 week low of $240.38 and a 52 week high of $423.74. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $109.82 billion, a P/E ratio of 53.83, a P/E/G ratio of 4.29 and a beta of 0.99.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, February 23rd. The software maker reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.55. Intuit had a net margin of 25.10% and a return on equity of 40.29%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business posted $1.16 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, analysts anticipate that Intuit Inc. will post 5.87 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 19th. Investors of record on Monday, April 12th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 0.59%. Intuit’s dividend payout ratio is currently 35.98%.

In other Intuit news, EVP James Alexander Chriss sold 364 shares of the company’s stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $407.38, for a total value of $148,286.32. Following the completion of the transaction, the executive vice president now directly owns 221 shares in the company, valued at approximately $90,030.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michelle M. Clatterbuck sold 2,253 shares of the company’s stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $403.51, for a total transaction of $909,108.03. Following the completion of the transaction, the chief financial officer now owns 4,293 shares of the company’s stock, valued at $1,732,268.43. The disclosure for this sale can be found here. Corporate insiders own 3.38% of the company’s stock.

INTU has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of Intuit from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $300.00 to $450.00 in a research note on Wednesday, December 9th. Smith Barney Citigroup boosted their price target on shares of Intuit from $378.00 to $383.00 in a research note on Tuesday, December 22nd. KeyCorp boosted their price target on shares of Intuit from $400.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 2nd. Piper Sandler boosted their price target on shares of Intuit from $458.00 to $470.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 3rd. Finally, Barclays boosted their price target on shares of Intuit from $455.00 to $480.00 and gave the stock an “overweight” rating in a research note on Thursday, February 25th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Intuit currently has an average rating of “Buy” and a consensus target price of $426.05.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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