Intuit Inc. (NASDAQ:INTU) Insider Sells $48,976,155.70 in Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $643.39 on Monday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. 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 market cap of $180.10 billion, a P/E ratio of 62.47, a P/E/G ratio of 3.31 and a beta of 1.24. The business’s 50 day moving average is $644.08 and its two-hundred day moving average is $634.65.

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

Intuit Dividend Announcement

The company also recently announced 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 yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INTU. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Stifel Nicolaus cut their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Holocene Advisors LP boosted its stake in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. State Street Corp increased its holdings in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

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.