Marianna Tessel Sells 7,385 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Marianna Tessel sold 7,385 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. The trade was a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Intuit Stock Up 1.5 %

Intuit stock traded up $9.05 during midday trading on Monday, reaching $613.09. The stock had a trading volume of 1,702,978 shares, compared to its average volume of 1,439,823. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The stock has a market capitalization of $171.40 billion, a P/E ratio of 59.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The firm’s fifty day simple moving average is $596.08 and its 200-day simple moving average is $622.74.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio is 38.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of INTU. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter valued at $25,000. Copia Wealth Management acquired a new stake in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter valued at about $28,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTU. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Scotiabank decreased their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.