Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells 16,185 Shares of Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) EVP Laura A. Fennell sold 16,185 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $753.21, for a total transaction of $12,190,703.85. Following the completion of the transaction, the executive vice president now owns 22,796 shares of the company's stock, valued at approximately $17,170,175.16. This represents a 41.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Intuit Trading Down 0.0%

Shares of NASDAQ INTU traded down $0.33 during midday trading on Tuesday, hitting $764.66. The stock had a trading volume of 1,526,670 shares, compared to its average volume of 1,620,227. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $771.38. The firm has a market cap of $213.30 billion, a P/E ratio of 74.24, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company's 50-day simple moving average is $633.69 and its 200 day simple moving average is $622.92.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $9.88 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio is presently 33.77%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INTU. UBS Group set a $750.00 target price on shares of Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus lifted their price objective on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Bank of America boosted their target price on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $785.33.

Institutional Trading of Intuit

A number of hedge funds have recently made changes to their positions in INTU. R Squared Ltd bought a new position in Intuit during the fourth quarter worth $25,000. Copia Wealth Management acquired a new position in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. 83.66% of the stock is 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.