Insider Selling: Intuit Inc. (NASDAQ:INTU) Insider Sells 75,000 Shares of Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Intuit Stock Performance

NASDAQ INTU opened at $641.73 on Friday. The company’s 50 day moving average is $634.10 and its 200-day moving average is $631.46. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $179.71 billion, a P/E ratio of 62.30, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on INTU shares. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Oppenheimer lifted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group raised their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley raised their price target 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. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Institutional Trading of Intuit

Several hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its stake in 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 valued at $300,768,000 after acquiring an additional 483,621 shares in the last quarter. Holocene Advisors LP grew its stake in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Intuit during the second quarter valued at approximately $184,982,000. Ameriprise Financial Inc. grew its stake in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares in the last quarter. Finally, State Street Corp grew its stake in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Company 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.