Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton Sells 2,988 Shares

Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Intuit Price Performance

NASDAQ INTU traded up $21.17 during trading hours on Thursday, reaching $654.24. 1,524,610 shares of the company’s stock were exchanged, compared to its average volume of 1,320,640. The firm has a fifty day moving average of $636.26 and a 200-day moving average of $631.30. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The stock has a market cap of $182.89 billion, a PE ratio of 60.65, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

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. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, equities research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. Intuit’s payout ratio is presently 38.38%.

Analysts Set New Price Targets

INTU has been the topic of a number of recent analyst reports. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Susquehanna restated a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Bank of America raised their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $720.37.

Hedge Funds Weigh In On Intuit

Institutional investors have recently modified their holdings of the stock. Aveo Capital Partners LLC bought a new position in Intuit during the fourth quarter worth about $203,000. 9258 Wealth Management LLC raised its position in shares of Intuit by 29.0% during the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock worth $406,000 after purchasing an additional 146 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Intuit by 31.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock valued at $1,022,000 after purchasing an additional 393 shares in the last quarter. Sachetta LLC acquired a new position in shares of Intuit in the 4th quarter valued at approximately $39,000. Finally, D.A. Davidson & CO. increased its stake in Intuit by 22.1% during the 4th quarter. D.A. Davidson & CO. now owns 8,279 shares of the software maker’s stock worth $5,175,000 after purchasing an additional 1,498 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.