Teachers Retirement System of The State of Kentucky Sells 1,346 Shares of Intuit Inc. (NASDAQ:INTU)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,953 shares of the software maker's stock after selling 1,346 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Intuit were worth $22,326,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new position in shares of Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the third quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the second quarter valued at approximately $35,000. Institutional investors own 83.66% of the company's stock.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $1.69 during trading on Thursday, reaching $672.25. The stock had a trading volume of 1,627,810 shares, compared to its average volume of 1,366,739. The stock has a market capitalization of $188.17 billion, a PE ratio of 65.10, a P/E/G ratio of 3.19 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business's 50-day moving average price is $637.67 and its 200 day moving average price is $630.99.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. Intuit's dividend payout ratio (DPR) is currently 40.39%.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a research report on Friday, August 23rd. Susquehanna reiterated a "positive" rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a "sector perform" rating and a $700.00 price target on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, Piper Sandler lowered their price objective on Intuit from $768.00 to $765.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $737.44.

Insider Activity at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business's stock in a transaction that occurred on 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 directly owns 6,378,105 shares of the company's stock, valued at approximately $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. Insiders sold a total of 126,732 shares of company stock valued at $81,378,070 over the last quarter. Corporate insiders own 2.68% of the company's stock.

About Intuit

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.