Intuit Inc. (NASDAQ:INTU) EVP Alex G. Balazs Sells 23,810 Shares

Intuit Inc. (NASDAQ:INTU) EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Intuit Stock Down 2.4 %

NASDAQ:INTU opened at $656.45 on Monday. The stock has a fifty day simple moving average of $639.96 and a 200-day simple moving average of $632.08. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $183.75 billion, a price-to-earnings ratio of 63.73, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. Analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th 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 is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INTU shares. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. BMO Capital Markets boosted 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. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. LGT Financial Advisors LLC purchased a new stake in Intuit during the second quarter worth $25,000. Cultivar Capital Inc. purchased a new position in Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit during the second quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the 3rd quarter valued at about $27,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.