State of Alaska Department of Revenue Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

State of Alaska Department of Revenue reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,659 shares of the software maker's stock after selling 1,845 shares during the period. State of Alaska Department of Revenue's holdings in Intuit were worth $25,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker's stock worth $12,942,784,000 after acquiring an additional 117,478 shares in the last quarter. State Street Corp boosted its stake in shares of Intuit by 1.8% during the second quarter. State Street Corp now owns 11,298,299 shares of the software maker's stock valued at $5,176,768,000 after purchasing an additional 198,646 shares in the last quarter. FMR LLC boosted its stake in shares of Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker's stock valued at $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Morgan Stanley boosted its stake in shares of Intuit by 3.7% during the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker's stock valued at $1,966,304,000 after purchasing an additional 137,198 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Intuit by 5.2% during the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker's stock valued at $1,641,533,000 after purchasing an additional 160,229 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Lauren D. Hotz sold 745 shares of the company's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company's stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of the company's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company's stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 34,260 shares of company stock valued at $20,667,475 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the company an "outperform" rating in a research note on Friday, February 23rd. Stifel Nicolaus increased their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. BMO Capital Markets reissued an "outperform" rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday. Barclays raised their target price on shares of Intuit from $735.00 to $745.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. Finally, Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the company an "outperform" rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $645.00.

Intuit Stock Performance

Shares of INTU stock traded up $1.26 on Friday, hitting $650.00. The company had a trading volume of 1,163,442 shares, compared to its average volume of 1,288,507. The firm has a market cap of $182 billion, a P/E ratio of 66.33, a price-to-earnings-growth ratio of 3.95 and a beta of 1.22. The company has a 50-day moving average price of $647.51 and a 200-day moving average price of $587.75. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01.

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

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit's dividend payout ratio (DPR) is presently 36.73%.

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.