Retirement Systems of Alabama Has $38.14 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Retirement Systems of Alabama cut its position in Intuit Inc. (NASDAQ:INTU) by 0.6% during the 4th quarter, HoldingsChannel reports. The firm owned 60,686 shares of the software maker’s stock after selling 361 shares during the quarter. Retirement Systems of Alabama’s holdings in Intuit were worth $38,141,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares during the period. Holocene Advisors LP raised its holdings in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB raised its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. State Street Corp raised its holdings in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Intuit during the fourth quarter worth $104,278,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

NASDAQ INTU opened at $588.26 on Thursday. The firm has a 50-day moving average of $629.33 and a 200-day moving average of $632.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $164.66 billion, a PE ratio of 57.11, a P/E/G ratio of 2.96 and a beta of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Finally, Morgan Stanley raised their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $726.53.

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.