Intuit (NASDAQ:INTU) Shares Down 0.1%

Intuit Inc. (NASDAQ:INTU)’s stock price traded down 0.1% during trading on Tuesday . The stock traded as low as $645.79 and last traded at $645.79. 125,940 shares were traded during trading, a decline of 90% from the average session volume of 1,316,603 shares. The stock had previously closed at $646.25.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INTU. Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Citigroup increased their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Stock Up 3.3 %

The company has a market cap of $182.89 billion, a P/E ratio of 60.65, a PEG ratio of 3.14 and a beta of 1.24. The stock has a 50-day moving average of $636.26 and a 200 day moving average of $631.30. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current 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 issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Activity

In related news, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a filing with the SEC, which is available through this link. In other Intuit news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now owns 1,020 shares in the company, valued at $664,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,389 shares of company stock worth $14,231,188. Insiders own 2.90% of the company’s stock.

Institutional Trading of Intuit

Hedge funds have recently made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit in the 2nd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Intuit in the 2nd quarter valued at approximately $35,000. Finally, Sachetta LLC bought a new position in shares of Intuit during the fourth quarter valued at $39,000. 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.