TIAA Trust National Association Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• TIAA Trust National Association reduced its stake in Intuit Inc. by 21.3%, ending with 13,261 shares valued at $8.14 million.
• Analysts show strong confidence in Intuit, with multiple upgrades, leading to a consensus target price increase to $806.27 and a consensus rating of "Moderate Buy."
• Intuit reported earnings of $11.65 per share for the quarter, exceeding estimates and reflecting a 15.1% increase in revenue year-over-year.

TIAA Trust National Association lessened its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 21.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,261 shares of the software maker's stock after selling 3,586 shares during the quarter. TIAA Trust National Association's holdings in Intuit were worth $8,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTU. Copia Wealth Management purchased a new position in Intuit in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in Intuit in the 4th quarter worth approximately $28,000. Olde Wealth Management LLC purchased a new position in Intuit in the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after acquiring an additional 68 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in Intuit in the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several research analyst reports. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Oppenheimer increased their target price on Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research note on Wednesday, April 23rd. Morgan Stanley increased their target price on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Evercore ISI increased their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $806.27.

Intuit Price Performance

Shares of NASDAQ INTU opened at $776.15 on Friday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The business's fifty day moving average price is $767.11 and its two-hundred day moving average price is $662.02. The firm has a market capitalization of $216.51 billion, a PE ratio of 63.00, a P/E/G ratio of 3.44 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. On average, research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.5%. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Insider Transactions at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,738 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the transaction, the chief accounting officer owned 455 shares of the company's stock, valued at $356,760.95. This represents a 79.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 over the last three months. 2.68% of the stock is currently owned by company 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.

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