Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells 8,163 Shares of Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intuit Stock Down 0.6 %

Shares of NASDAQ:INTU opened at $614.86 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day simple moving average of $595.84 and a two-hundred day simple moving average of $622.71. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm has a market capitalization of $171.89 billion, a PE ratio of 59.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date 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%.

Analysts Set New Price Targets

INTU has been the subject of a number of research reports. BMO Capital Markets dropped their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Institutional Trading of Intuit

Large investors have recently made changes to their positions in the stock. R Squared Ltd bought a new stake in Intuit during the 4th quarter valued at about $25,000. Copia Wealth Management purchased a new position in shares of Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit in the fourth quarter worth approximately $28,000. 83.66% of the stock is owned by hedge funds and other 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.