Intuit Inc. (NASDAQ:INTU) Given Average Recommendation of “Moderate Buy” by Brokerages

Intuit Inc. (NASDAQ:INTU) has been assigned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $717.53.

INTU has been the topic of several research reports. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Citigroup cut their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd.

Intuit Stock Performance

Shares of Intuit stock opened at $618.23 on Thursday. The firm has a market capitalization of $172.83 billion, a P/E ratio of 60.02, a PEG ratio of 2.85 and a beta of 1.25. 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 company has a 50 day moving average price of $594.20 and a 200 day moving average price of $616.09. Intuit has a 52 week low of $532.65 and a 52 week high of $714.78.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Several hedge funds have recently made changes to their positions in the company. North Capital Inc. purchased a new stake in shares of Intuit in the 1st quarter valued at approximately $126,000. Barlow Wealth Partners Inc. grew its stake in shares of Intuit by 0.8% in the 1st quarter. Barlow Wealth Partners Inc. now owns 17,444 shares of the software maker’s stock valued at $10,887,000 after buying an additional 139 shares during the period. D.A. Davidson & CO. boosted its position in shares of Intuit by 4.8% during the 1st quarter. D.A. Davidson & CO. now owns 10,257 shares of the software maker’s stock worth $6,298,000 after purchasing an additional 470 shares during the period. Resonant Capital Advisors LLC boosted its position in shares of Intuit by 13.8% during the 1st quarter. Resonant Capital Advisors LLC now owns 485 shares of the software maker’s stock worth $298,000 after purchasing an additional 59 shares during the period. Finally, Arlington Trust Co LLC boosted its position in shares of Intuit by 5.5% during the 1st quarter. Arlington Trust Co LLC now owns 2,210 shares of the software maker’s stock worth $1,357,000 after purchasing an additional 116 shares during the period. 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.