Intuit Inc. (NASDAQ:INTU) CEO Sells $47,257,500.00 in Stock

Intuit Inc. (NASDAQ:INTUGet Free Report) CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Intuit Price Performance

Shares of INTU stock traded down $5.71 on Thursday, reaching $622.79. 1,005,704 shares of the company were exchanged, compared to its average volume of 1,378,204. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day moving average price of $648.62 and a 200 day moving average price of $637.79. The company has a market cap of $174.33 billion, a price-to-earnings ratio of 60.47, a P/E/G ratio of 3.24 and a beta of 1.24.

Intuit (NASDAQ:INTUGet Free Report) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is presently 40.39%.

Institutional Trading of Intuit

A number of hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC increased its stake in shares of Intuit by 33.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,408 shares of the software maker’s stock worth $874,000 after acquiring an additional 351 shares during the last quarter. Garden State Investment Advisory Services LLC grew its stake in shares of Intuit by 55.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the software maker’s stock valued at $762,000 after buying an additional 436 shares during the period. Denver PWM LLC acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $32,000. American Trust acquired a new position in Intuit in the third quarter valued at approximately $1,126,000. Finally, Synovus Financial Corp grew its position in Intuit by 3.2% in the third quarter. Synovus Financial Corp now owns 7,495 shares of the software maker’s stock worth $4,654,000 after acquiring an additional 231 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus cut their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Read Our Latest Report on INTU

Intuit Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Intuit (NASDAQ:INTU)

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