Intuit Inc. (NASDAQ:INTU) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Intuit Inc. (NASDAQ:INTU) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,417 shares of the software maker’s stock after selling 32,845 shares during the period. New York State Common Retirement Fund owned 0.13% of Intuit worth $221,335,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new position in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit during the 2nd quarter worth $35,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on INTU. Piper Sandler reissued an “overweight” rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Stifel Nicolaus boosted their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Trading Up 0.5 %

Shares of INTU traded up $3.17 during midday trading on Friday, hitting $613.47. The stock had a trading volume of 79,669 shares, compared to its average volume of 1,310,831. The business has a 50-day simple moving average of $622.88 and a two-hundred day simple moving average of $626.37. The firm has a market cap of $171.95 billion, a P/E ratio of 58.40, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a fifty-two week low of $489.55 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 in the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Intuit 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.