Insider Selling: Intuit Inc. (NASDAQ:INTU) CAO Sells 1,078 Shares of Stock

Intuit Inc. (NASDAQ:INTU) CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Intuit Stock Performance

Shares of INTU opened at $613.22 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average price is $649.47 and its 200-day moving average price is $637.94. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a market cap of $171.65 billion, a P/E ratio of 59.54, a P/E/G ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping 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 firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.07 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, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on INTU shares. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. lifted its position in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares in the last quarter. GAMMA Investing LLC lifted its position in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares in the last quarter. Retireful LLC bought a new position in Intuit in the 3rd quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit during the 3rd quarter valued at $56,144,000. 83.66% of the stock is owned by institutional investors.

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.