Intuit (NASDAQ:INTU) Stock Price Down 1.6% on Insider Selling

Intuit Inc. (NASDAQ:INTU) shares traded down 1.6% during trading on Friday after an insider sold shares in the company. The stock traded as low as $642.78 and last traded at $643.88. 598,607 shares were traded during trading, a decline of 55% from the average session volume of 1,316,740 shares. The stock had previously closed at $654.24.

Specifically, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities analysts have commented on INTU shares. Jefferies Financial Group upped their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays decreased their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Royal Bank of Canada initiated coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock. Finally, Citigroup lifted their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Down 1.6 %

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $179.99 billion, a price-to-earnings ratio of 59.40, a PEG ratio of 3.14 and a beta of 1.24. The firm’s 50-day moving average price is $636.76 and its 200 day moving average price is $631.46.

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

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently bought and sold shares of the company. Aveo Capital Partners LLC bought a new stake in Intuit during the fourth quarter valued at $203,000. 9258 Wealth Management LLC grew its stake in shares of Intuit by 29.0% in the 4th quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock worth $406,000 after acquiring an additional 146 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in Intuit by 31.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock valued at $1,022,000 after buying an additional 393 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Intuit by 22.1% during the fourth quarter. D.A. Davidson & CO. now owns 8,279 shares of the software maker’s stock valued at $5,175,000 after acquiring an additional 1,498 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

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.