Intuit Inc. (NASDAQ:INTU) EVP Sells $5,063,828.00 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the transaction, the executive vice president now owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This trade represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Intuit Stock Down 2.4 %

Shares of INTU stock opened at $656.45 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $183.75 billion, a P/E ratio of 63.73, a P/E/G ratio of 3.31 and a beta of 1.24. The stock has a 50 day moving average of $639.96 and a 200 day moving average of $631.62. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

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

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler cut their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Finally, Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Hedge Funds Weigh In On Intuit

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Intuit by 1.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,528 shares of the software maker’s stock valued at $18,092,000 after buying an additional 260 shares during the period. ORG Partners LLC lifted its stake in Intuit by 2,214.3% during the second quarter. ORG Partners LLC now owns 162 shares of the software maker’s stock worth $106,000 after purchasing an additional 155 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of Intuit by 27.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 98 shares of the software maker’s stock valued at $65,000 after buying an additional 21 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Intuit by 2.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 27,288 shares of the software maker’s stock valued at $17,934,000 after acquiring an additional 580 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Intuit in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.