Intuit Inc. (NASDAQ:INTU) EVP Sells $19,372,935.24 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $3.77 on Tuesday, reaching $638.20. The company’s stock had a trading volume of 1,454,604 shares, compared to its average volume of 1,328,571. The company has a 50-day simple moving average of $636.49 and a 200 day simple moving average of $631.06. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $178.41 billion, a P/E ratio of 59.22, a PEG ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during 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 firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed 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 of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s payout ratio is 38.38%.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Royal Bank of Canada began coverage on shares of Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price for the company. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Piper Sandler restated an “overweight” rating and issued a $768.00 price objective (up from $760.00) on shares of Intuit in a research report on Friday, August 23rd. BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Barclays decreased their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

Institutional Investors Weigh In On Intuit

Institutional investors have recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. purchased a new position in Intuit in the 2nd quarter worth about $26,000. Fairway Wealth LLC purchased a new position in Intuit in the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in Intuit in the 2nd quarter valued at about $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in Intuit in the 2nd quarter valued at about $39,000. Institutional investors 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.