Sasan K. Goodarzi Sells 26,562 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 26,562 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now directly owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This represents a 41.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Intuit Stock Down 1.6 %

Shares of INTU opened at $615.43 on Wednesday. The stock has a 50 day moving average price of $649.14 and a 200 day moving average price of $638.33. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. 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 stock has a market capitalization of $172.27 billion, a price-to-earnings ratio of 59.75, a PEG ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. Equities research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business 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. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INTU. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Piper Sandler reduced their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Institutional Investors Weigh In On Intuit

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fairway Wealth LLC purchased a new stake in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth about $27,000. Denver PWM LLC purchased a new position in Intuit during the third quarter worth about $32,000. Trifecta Capital Advisors LLC boosted its holdings in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after purchasing an additional 35 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in shares of Intuit by 275.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 60 shares of the software maker’s stock valued at $39,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds 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.