Laura A. Fennell Sells 25,648 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the transaction, the executive vice president now owns 22,796 shares in the company, valued at $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intuit Stock Down 0.0%

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

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $9.88 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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

Institutional Trading of Intuit

Hedge funds have recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in shares of Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after purchasing an additional 1,350 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Intuit in the fourth quarter valued at $104,278,000. Foundations Investment Advisors LLC raised its position in shares of Intuit by 65.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 666 shares of the software maker's stock worth $419,000 after acquiring an additional 264 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after acquiring an additional 482 shares during the period. Finally, Perigon Wealth Management LLC grew its position in shares of Intuit by 3.5% during the 4th quarter. Perigon Wealth Management LLC now owns 4,793 shares of the software maker's stock valued at $2,911,000 after acquiring an additional 162 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on INTU shares. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Morgan Stanley restated an "overweight" rating and set a $785.00 price objective (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $850.00 price target (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $785.33.

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.