California State Teachers Retirement System Sells 12,364 Shares of Intuit Inc. (NASDAQ:INTU)

California State Teachers Retirement System trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 433,441 shares of the software maker’s stock after selling 12,364 shares during the quarter. California State Teachers Retirement System owned 0.16% of Intuit worth $272,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the fourth quarter worth approximately $28,000. Finally, Summit Securities Group LLC purchased a new position in Intuit in the 4th quarter worth $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of Intuit stock opened at $624.12 on Monday. The stock’s 50-day simple moving average is $593.48 and its 200-day simple moving average is $616.08. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78. The company has a market capitalization of $174.48 billion, a price-to-earnings ratio of 60.59, a PEG ratio of 2.85 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s payout ratio is 38.81%.

Insider Activity

In related news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. BMO Capital Markets dropped their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Finally, Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $717.53.

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.