Intuit Inc. (NASDAQ:INTU) EVP Sells $4,431,960.05 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Marianna Tessel sold 7,385 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. This represents a 15.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intuit Stock Down 0.6 %

Intuit stock opened at $614.86 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company has a 50-day simple moving average of $595.84 and a 200-day simple moving average of $622.71. The firm has a market capitalization of $171.89 billion, a P/E ratio of 59.70, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Scotiabank cut their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. BMO Capital Markets reduced their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $721.61.

Institutional Investors Weigh In On Intuit

Hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in Intuit in the 4th quarter valued at approximately $25,000. Copia Wealth Management bought a new position in shares of Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter valued at $28,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Intuit during the fourth quarter valued at about $28,000. 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.