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 the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the sale, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Intuit Price Performance

NASDAQ:INTU opened at $672.25 on Friday. 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 firm has a market cap of $188.17 billion, a PE ratio of 65.10, a price-to-earnings-growth ratio of 3.19 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company’s 50-day moving average price is $637.67 and its two-hundred day moving average price is $630.99.

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

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after acquiring an additional 483,621 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Intuit during the 2nd quarter worth approximately $184,982,000. Ameriprise Financial Inc. raised its stake in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Finally, State Street Corp boosted its stake in Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INTU has been the subject of a number of recent analyst reports. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets upped their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Piper Sandler reduced their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $737.44.

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.