Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi Sells 26,562 Shares

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the transaction, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. This trade represents a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Intuit Stock Performance

Shares of INTU opened at $625.16 on Tuesday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a market capitalization of $174.99 billion, a PE ratio of 60.70, a PEG ratio of 3.24 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. The stock has a 50-day simple moving average of $649.30 and a 200-day simple moving average of $638.45.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INTU. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Piper Sandler decreased their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Institutional Trading of Intuit

A number of institutional investors have recently bought and sold shares of the business. Fairway Wealth LLC acquired a new stake in shares of Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit in the third quarter valued at approximately $27,000. Denver PWM LLC acquired a new stake in Intuit during the third quarter worth approximately $32,000. Dunhill Financial LLC lifted its position in shares of Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the last quarter. Finally, Trifecta Capital Advisors LLC boosted its holdings in shares of Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after buying an additional 35 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.