Intuit Inc. (NASDAQ:INTU) Receives $720.50 Consensus PT from Analysts

Shares of Intuit Inc. (NASDAQ:INTU) have been given an average rating of “Moderate Buy” by the twenty brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $721.61.

INTU has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday, February 26th. 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. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. Finally, BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now directly owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,811 shares of company stock worth $142,391,012 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Intuit

Several large investors have recently bought and sold shares of the company. Brown Financial Advisors boosted its position in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares in the last quarter. Truvestments Capital LLC increased its stake in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares in the last quarter. True North Advisors LLC increased its stake in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC boosted its holdings in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after buying an additional 17 shares during the period. Finally, Kovack Advisors Inc. boosted its holdings in Intuit by 4.8% in the 3rd quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock worth $244,000 after buying an additional 18 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Intuit stock opened at $609.61 on Wednesday. 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 has a 52 week low of $553.24 and a 52 week high of $714.78. The stock has a market capitalization of $170.42 billion, a P/E ratio of 59.19, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock has a fifty day moving average of $602.28 and a 200-day moving average of $625.12.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s payout ratio is 38.81%.

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.