Intuit (NASDAQ:INTU) Trading Down 0.4%

Shares of Intuit Inc. (NASDAQ:INTU) dropped 0.4% on Friday . The company traded as low as $604.17 and last traded at $605.77. Approximately 259,497 shares changed hands during trading, a decline of 79% from the average daily volume of 1,230,118 shares. The stock had previously closed at $608.38.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Piper Sandler boosted their price objective on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Barclays upped their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Susquehanna raised their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Evercore ISI upped their target price on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, Mizuho upped their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Price Performance

The company has a 50 day moving average of $643.99 and a 200 day moving average of $598.45. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market cap of $168.50 billion, a price-to-earnings ratio of 61.81, a P/E/G ratio of 3.73 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. Equities research analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.60%. Intuit’s payout ratio is presently 36.73%.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Several hedge funds have recently bought and sold shares of the stock. NewSquare Capital LLC acquired a new stake in Intuit in the 3rd quarter worth about $25,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Intuit during the fourth quarter worth $25,000. Cape Investment Advisory Inc. bought a new position in Intuit in the third quarter valued at about $26,000. MCF Advisors LLC raised its stake in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Steward Financial Group LLC lifted its holdings in shares of Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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.