California State Teachers Retirement System increased its stake in Intuit Inc. (NASDAQ:INTU) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 439,542 shares of the software maker’s stock after purchasing an additional 27,319 shares during the period. California State Teachers Retirement System owned 0.17% of Intuit worth $69,351,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ellington Management Group LLC lifted its holdings in shares of Intuit by 114.8% in the 4th quarter. Ellington Management Group LLC now owns 5,800 shares of the software maker’s stock worth $915,000 after purchasing an additional 3,100 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of Intuit in the 4th quarter worth approximately $680,000. Stone Ridge Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $512,000. Guggenheim Capital LLC lifted its holdings in shares of Intuit by 29.0% in the 4th quarter. Guggenheim Capital LLC now owns 561,311 shares of the software maker’s stock worth $88,562,000 after purchasing an additional 126,198 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Intuit by 1.8% in the 4th quarter. Franklin Resources Inc. now owns 1,421,635 shares of the software maker’s stock worth $224,306,000 after purchasing an additional 25,601 shares during the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.
Intuit Inc. (INTU) opened at $177.68 on Wednesday. Intuit Inc. has a 1 year low of $114.80 and a 1 year high of $179.17. The stock has a market capitalization of $45,420.00, a price-to-earnings ratio of 46.76, a PEG ratio of 2.70 and a beta of 1.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.63 and a current ratio of 0.63.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Tuesday, April 10th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 41.05%.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Intuit to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 4th. Deutsche Bank raised their price target on Intuit from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Oppenheimer reaffirmed a “buy” rating and set a $166.00 target price (up previously from $159.00) on shares of Intuit in a research note on Tuesday, November 21st. Citigroup lifted their target price on Intuit to $170.00 in a research note on Tuesday, November 21st. Finally, Bank of America lifted their target price on Intuit from $172.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $167.05.
In other news, EVP Henry Tayloe Stansbury sold 2,158 shares of Intuit stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $158.94, for a total transaction of $342,992.52. Following the transaction, the executive vice president now directly owns 3,050 shares in the company, valued at approximately $484,767. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Scott D. Cook sold 112,731 shares of Intuit stock in a transaction on Monday, December 18th. The shares were sold at an average price of $160.97, for a total value of $18,146,309.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 935,159 shares of company stock worth $157,615,795. 5.59% of the stock is owned by insiders.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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