Louisiana State Employees Retirement System Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

Louisiana State Employees Retirement System trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,500 shares of the software maker’s stock after selling 1,500 shares during the period. Intuit accounts for 0.4% of Louisiana State Employees Retirement System’s holdings, making the stock its 27th biggest position. Louisiana State Employees Retirement System’s holdings in Intuit were worth $22,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of INTU. Carnegie Investment Counsel lifted its stake in Intuit by 5.3% in the 3rd quarter. Carnegie Investment Counsel now owns 591 shares of the software maker’s stock valued at $367,000 after buying an additional 30 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Intuit by 8.5% during the third quarter. Koshinski Asset Management Inc. now owns 974 shares of the software maker’s stock valued at $605,000 after acquiring an additional 76 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Intuit by 21.4% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 397 shares of the software maker’s stock valued at $247,000 after acquiring an additional 70 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Intuit by 8.1% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,237 shares of the software maker’s stock valued at $769,000 after acquiring an additional 93 shares in the last quarter. Finally, Fiduciary Alliance LLC acquired a new stake in shares of Intuit in the third quarter worth approximately $258,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on INTU shares. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Oppenheimer increased their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Activity

In related news, CFO Sandeep Aujla sold 109 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Down 0.2 %

Shares of INTU opened at $585.88 on Wednesday. The company’s 50-day moving average price is $625.25 and its 200 day moving average price is $631.39. Intuit Inc. has a 12-month low of $557.29 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 firm has a market cap of $164.00 billion, a P/E ratio of 56.88, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm earned $1.14 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. Intuit’s dividend payout ratio is currently 40.39%.

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.