State of Alaska Department of Revenue lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,204 shares of the software maker’s stock after acquiring an additional 162 shares during the period. State of Alaska Department of Revenue’s holdings in Intuit were worth $8,305,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of INTU. Moody National Bank Trust Division acquired a new stake in shares of Intuit during the fourth quarter valued at $35,000. Csenge Advisory Group acquired a new stake in shares of Intuit during the third quarter valued at $54,000. Oakworth Capital Inc. boosted its stake in shares of Intuit by 2,480.0% during the third quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock valued at $117,000 after acquiring an additional 496 shares during the last quarter. Willingdon Wealth Management acquired a new stake in Intuit in the 3rd quarter worth about $121,000. Finally, Financial Gravity Wealth Inc. boosted its stake in Intuit by 65.0% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock worth $122,000 after buying an additional 240 shares during the last quarter. 86.17% of the stock is currently owned by institutional investors and hedge funds.
INTU has been the topic of a number of research analyst reports. Deutsche Bank decreased their price target on Intuit from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. Credit Suisse Group set a $250.00 price target on Intuit and gave the stock a “buy” rating in a research note on Monday, October 15th. BidaskClub lowered Intuit from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Argus raised their price target on Intuit from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. Finally, Evercore ISI raised Intuit from an “in-line” rating to an “outperform” rating in a research note on Wednesday, October 3rd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. Intuit currently has a consensus rating of “Buy” and a consensus price target of $222.50.
NASDAQ INTU opened at $206.15 on Friday. The stock has a market capitalization of $52.59 billion, a PE ratio of 45.51, a PEG ratio of 2.36 and a beta of 1.17. Intuit Inc. has a 1-year low of $150.43 and a 1-year high of $231.84. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.13.
Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, November 19th. The software maker reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.18. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $971.45 million. Intuit had a return on equity of 56.35% and a net margin of 20.71%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Sell-side analysts expect that Intuit Inc. will post 5.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 18th. Stockholders of record on Thursday, January 10th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, January 9th. Intuit’s dividend payout ratio is currently 41.50%.
In other news, EVP Henry Tayloe Stansbury sold 3,650 shares of Intuit stock in a transaction dated Friday, December 21st. The stock was sold at an average price of $188.94, for a total value of $689,631.00. Following the transaction, the executive vice president now directly owns 3,383 shares of the company’s stock, valued at approximately $639,184.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sasan K. Goodarzi sold 85,835 shares of Intuit stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $196.74, for a total value of $16,887,177.90. Following the completion of the transaction, the executive vice president now directly owns 90,837 shares in the company, valued at $17,871,271.38. The disclosure for this sale can be found here. Insiders sold a total of 347,207 shares of company stock worth $68,710,900 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2019/01/12/state-of-alaska-department-of-revenue-has-8-31-million-position-in-intuit-inc-intu.html.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
Featured Article: Diversification in Investing
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.