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

TIAA Trust National Association cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,847 shares of the software maker’s stock after selling 937 shares during the quarter. TIAA Trust National Association’s holdings in Intuit were worth $10,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. boosted its holdings in shares of Intuit by 20.8% in the third quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock worth $3,181,000 after acquiring an additional 799 shares during the period. Kingsview Wealth Management LLC lifted its holdings in Intuit by 28.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,576 shares of the software maker’s stock worth $978,000 after purchasing an additional 353 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Intuit by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 2,890 shares of the software maker’s stock worth $1,793,000 after purchasing an additional 34 shares during the period. Larson Financial Group LLC grew its holdings in Intuit by 38.2% during the 3rd quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock valued at $186,000 after buying an additional 83 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Intuit during the third quarter valued at about $1,291,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,896 shares of company stock worth $82,946,716. 2.68% of the stock is currently owned by insiders.

Intuit Stock Up 0.9 %

INTU opened at $618.72 on Wednesday. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $595.97 and its 200-day moving average price is $622.76. The company has a market cap of $172.97 billion, a P/E ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

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

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BMO Capital Markets dropped their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.