Scott D. Cook Sells 2,461 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Intuit Trading Down 1.4 %

Shares of Intuit stock opened at $644.99 on Friday. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $180.31 billion, a P/E ratio of 59.50, a P/E/G ratio of 3.14 and a beta of 1.24. The stock’s 50 day simple moving average is $636.82 and its 200-day simple moving average is $631.30.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts predict that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INTU. Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Citigroup raised their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Barclays decreased their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after buying an additional 2,336,654 shares during the period. Lone Pine Capital LLC purchased a new stake in Intuit in the fourth quarter valued at $467,852,000. Parnassus Investments LLC raised its position in Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares during the period. Capital World Investors lifted its stake in shares of Intuit by 54.7% in the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after purchasing an additional 416,099 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Intuit by 940.4% during the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after purchasing an additional 285,328 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.