Intuit Inc. (NASDAQ:INTU) EVP Sells 11,079 Shares

Intuit Inc. (NASDAQ:INTU) EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intuit Trading Down 0.3 %

Shares of INTU opened at $623.10 on Thursday. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $639.86 and its 200-day simple moving average is $632.79. The company has a market cap of $174.19 billion, a P/E ratio of 57.48, a P/E/G ratio of 3.08 and a beta of 1.23.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is presently 38.38%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. Bank of America increased their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup boosted their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. BMO Capital Markets raised their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $768.00 target price (up from $760.00) on shares of Intuit in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $716.35.

Institutional Trading of Intuit

A number of hedge funds and other institutional investors have recently bought and sold shares of INTU. Aveo Capital Partners LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $203,000. 9258 Wealth Management LLC raised its position in Intuit by 29.0% during the 4th quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after purchasing an additional 146 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Intuit by 11.1% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 650 shares of the software maker’s stock worth $406,000 after buying an additional 65 shares during the period. TCG Advisory Services LLC purchased a new stake in shares of Intuit in the 4th quarter worth $216,000. Finally, Spire Wealth Management grew its position in shares of Intuit by 25.0% during the 4th quarter. Spire Wealth Management now owns 3,055 shares of the software maker’s stock worth $1,901,000 after buying an additional 611 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.