Retirement Systems of Alabama Sells 1,558 Shares of Intuit Inc. (NASDAQ:INTU)

Retirement Systems of Alabama reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,766 shares of the software maker’s stock after selling 1,558 shares during the quarter. Retirement Systems of Alabama’s holdings in Intuit were worth $38,606,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in INTU. Strategic Blueprint LLC bought a new stake in shares of Intuit during the third quarter valued at approximately $221,000. Valeo Financial Advisors LLC boosted its holdings in Intuit by 7.9% in the third quarter. Valeo Financial Advisors LLC now owns 2,005 shares of the software maker’s stock worth $1,025,000 after acquiring an additional 147 shares in the last quarter. Bfsg LLC bought a new stake in Intuit in the third quarter worth $901,000. Brookstone Capital Management boosted its holdings in Intuit by 14.3% in the third quarter. Brookstone Capital Management now owns 2,273 shares of the software maker’s stock worth $1,185,000 after acquiring an additional 285 shares in the last quarter. Finally, Sumitomo Life Insurance Co. boosted its holdings in Intuit by 3.1% in the third quarter. Sumitomo Life Insurance Co. now owns 8,327 shares of the software maker’s stock worth $4,255,000 after acquiring an additional 252 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which is available through this link. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU opened at $636.55 on Monday. The firm has a market cap of $178.23 billion, a price-to-earnings ratio of 64.95, a price-to-earnings-growth ratio of 3.88 and a beta of 1.21. 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 business has a 50-day moving average price of $640.26 and a 200-day moving average price of $603.61. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01.

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

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Evercore ISI boosted their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. KeyCorp boosted their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Mizuho boosted their price target on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus boosted their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

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.