TIAA Trust National Association Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

TIAA Trust National Association trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,847 shares of the software maker’s stock after selling 937 shares during the period. TIAA Trust National Association’s holdings in Intuit were worth $10,589,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INTU. Vanguard Group Inc. raised its stake in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after buying an additional 353,185 shares in the last quarter. State Street Corp raised its position in shares of Intuit by 1.8% in the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Intuit by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after purchasing an additional 88,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after purchasing an additional 87,517 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction on Friday, January 10th. The shares were 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 directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,896 shares of company stock worth $82,946,716 over the last quarter. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on INTU. Piper Sandler reissued an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $618.72 on Wednesday. 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 firm has a market cap of $172.97 billion, a price-to-earnings ratio of 60.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50-day simple moving average of $595.97 and a two-hundred day simple moving average of $622.76. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s payout ratio is 38.81%.

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.