Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells $2,938,012.56 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intuit Price Performance

INTU stock opened at $623.43 on Friday. 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 business has a 50-day simple moving average of $649.58 and a two-hundred day simple moving average of $638.15. The company has a market capitalization of $174.51 billion, a P/E ratio of 60.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last announced its 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. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Research analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The company 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s payout ratio is currently 40.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in shares of Intuit by 17.9% during the second quarter. Private Advisor Group LLC now owns 8,487 shares of the software maker’s stock valued at $5,578,000 after acquiring an additional 1,287 shares during the last quarter. Savant Capital LLC increased its position in shares of Intuit by 4.6% during the 2nd quarter. Savant Capital LLC now owns 2,880 shares of the software maker’s stock valued at $1,893,000 after purchasing an additional 126 shares during the last quarter. Quest Partners LLC raised its stake in shares of Intuit by 588.6% during the 2nd quarter. Quest Partners LLC now owns 544 shares of the software maker’s stock worth $358,000 after purchasing an additional 465 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Intuit by 1.0% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 5,763 shares of the software maker’s stock worth $3,788,000 after buying an additional 55 shares during the last quarter. Finally, PFG Investments LLC grew its position in Intuit by 1.1% during the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after buying an additional 17 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the subject of several analyst reports. Barclays lowered their price target 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. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

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.