Intuit Inc. (NASDAQ:INTU) EVP Sells $1,849,183.16 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Intuit Trading Up 1.4 %

Intuit stock opened at $655.31 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The stock has a market cap of $183.68 billion, a P/E ratio of 60.45, a PEG ratio of 3.14 and a beta of 1.24. The firm’s fifty day moving average price is $636.63 and its 200-day moving average price is $632.02.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 EPS. Equities research analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 33.21%.

Institutional Trading of Intuit

Several institutional investors and hedge funds have recently made changes to their positions in INTU. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit during the second quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter worth approximately $35,000. Finally, Sachetta LLC purchased a new stake in shares of Intuit in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research report on Friday, June 14th. KeyCorp upped their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, Citigroup lifted their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

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.