Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells 34,329 Shares of Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) EVP Marianna Tessel sold 34,329 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the sale, the executive vice president now owns 40,767 shares of the company's stock, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Marianna Tessel also recently made the following trade(s):

• On Friday, March 21st, Marianna Tessel sold 7,385 shares of Intuit stock. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05.

Intuit Trading Down 0.0%

INTU traded down $0.07 during trading on Friday, reaching $766.57. 674,573 shares of the company's stock were exchanged, compared to its average volume of 1,615,813. 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 one year low of $532.65 and a one year high of $774.80. The firm has a fifty day moving average price of $643.09 and a two-hundred day moving average price of $625.50. The stock has a market capitalization of $213.83 billion, a PE ratio of 74.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during 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%. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $9.88 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Institutional Investors Weigh In On Intuit

Several large investors have recently modified their holdings of INTU. Norges Bank acquired a new position in shares of Intuit in the 4th quarter valued at about $2,290,419,000. GAMMA Investing LLC boosted its holdings in shares of Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after buying an additional 2,821,534 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Intuit during the 1st quarter worth approximately $882,031,000. Nicholas Hoffman & Company LLC. bought a new stake in Intuit in the first quarter valued at $785,564,000. Finally, Proficio Capital Partners LLC raised its stake in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after buying an additional 1,062,847 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent research reports. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Citigroup reiterated a "buy" rating and set a $789.00 target price (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price target on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. Stifel Nicolaus upped their price objective on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.