Intuit Inc. (NASDAQ:INTU) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,372 shares of the software maker's stock after selling 6,284 shares during the quarter. State of Tennessee Department of Treasury's holdings in Intuit were worth $63,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in INTU. R Squared Ltd purchased a new stake in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the fourth quarter worth $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Institutional investors own 83.66% of the company's stock.

Intuit Price Performance

INTU stock traded up $9.29 during midday trading on Friday, reaching $624.12. The stock had a trading volume of 1,540,630 shares, compared to its average volume of 1,579,942. The company's fifty day simple moving average is $593.48 and its 200 day simple moving average is $616.14. The company has a market cap of $174.48 billion, a price-to-earnings ratio of 60.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78.

Intuit Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on INTU. Mizuho increased their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Citigroup reduced their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. One research 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

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.