Intuit Inc. (NASDAQ:INTU) Insider Scott D. Cook Sells 62,816 Shares

Intuit Inc. (NASDAQ:INTU - Get Free Report) insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the transaction, the insider now owns 6,000,679 shares of the company's stock, valued at $4,596,460,107.21. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intuit Stock Performance

Shares of Intuit stock traded up $2.65 on Wednesday, reaching $764.75. 1,275,593 shares of the stock were exchanged, compared to its average volume of 1,618,776. The business has a 50 day moving average price of $656.45 and a two-hundred day moving average price of $628.59. The firm has a market capitalization of $213.32 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors 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 yield of 0.54%. Intuit's dividend payout ratio is presently 33.77%.

Institutional Investors Weigh In On Intuit

A number of large investors have recently made changes to their positions in INTU. Vanguard Group Inc. raised its holdings in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock worth $16,780,536,000 after acquiring an additional 294,993 shares during the period. Price T Rowe Associates Inc. MD increased its position in Intuit by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock worth $5,537,435,000 after purchasing an additional 649,212 shares during the last quarter. Geode Capital Management LLC raised its stake in Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares during the period. Wellington Management Group LLP boosted its holdings in Intuit by 6.8% in the 1st quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock valued at $3,472,266,000 after purchasing an additional 358,328 shares during the last quarter. Finally, Norges Bank acquired a new position in Intuit in the 4th quarter valued at about $2,290,419,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. Piper Sandler restated an "overweight" rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Mizuho raised their price objective on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Susquehanna reiterated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets restated an "outperform" rating and set a $820.00 price target (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Citigroup restated a "buy" rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $785.33.

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.