Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells 7,700 Shares of Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the sale, the executive vice president now directly owns 33,916 shares in the company, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Intuit Stock Performance

NASDAQ:INTU opened at $656.45 on Friday. The firm has a 50-day moving average of $639.96 and a two-hundred day moving average of $631.62. 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 stock has a market cap of $183.75 billion, a P/E ratio of 63.73, a PEG ratio of 3.31 and a beta of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly 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 firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the business posted $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.63%. Intuit’s dividend payout ratio is presently 40.39%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on INTU shares. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group increased 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. Susquehanna reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Piper Sandler cut their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC raised its stake in shares of Intuit by 33.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,408 shares of the software maker’s stock valued at $874,000 after purchasing an additional 351 shares in the last quarter. Garden State Investment Advisory Services LLC raised its stake in Intuit by 55.1% during the third quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the software maker’s stock valued at $762,000 after buying an additional 436 shares in the last quarter. Denver PWM LLC bought a new position in Intuit during the 3rd quarter worth approximately $32,000. American Trust acquired a new position in shares of Intuit in the 3rd quarter worth approximately $1,126,000. Finally, Synovus Financial Corp increased its holdings in shares of Intuit by 3.2% in the 3rd quarter. Synovus Financial Corp now owns 7,495 shares of the software maker’s stock valued at $4,654,000 after acquiring an additional 231 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

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.