Intuit Inc. (NASDAQ:INTU) Insider Scott D. Cook Sells 75,000 Shares

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Intuit Trading Down 0.4 %

Intuit stock opened at $636.17 on Friday. The stock has a market cap of $178.15 billion, a P/E ratio of 61.76, a PEG ratio of 3.14 and a beta of 1.25. 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 fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm’s fifty day moving average price is $634.16 and its 200-day moving average price is $631.36.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS 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 business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s dividend payout ratio is currently 40.39%.

Institutional Trading of Intuit

Institutional investors have recently modified their holdings of the company. LGT Financial Advisors LLC purchased a new stake in Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the 2nd quarter valued at $26,000. Fairway Wealth LLC purchased a new stake in Intuit during the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on INTU shares. Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Piper Sandler decreased their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Bank of America boosted their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Intuit currently has an average 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.