Mark P. Notarainni Sells 363 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni sold 363 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the sale, the executive vice president now owns 19 shares in the company, valued at approximately $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Intuit Trading Up 1.7 %

INTU opened at $626.05 on Thursday. The firm has a market cap of $175.24 billion, a price-to-earnings ratio of 60.78, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business’s 50 day moving average is $649.24 and its two-hundred day moving average is $638.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts predict that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The business 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 $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Piper Sandler lowered their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Institutional Trading of Intuit

Several institutional investors and hedge funds have recently added to or reduced their stakes in INTU. Larson Financial Group LLC increased its stake in Intuit by 79.3% in the 2nd quarter. Larson Financial Group LLC now owns 217 shares of the software maker’s stock valued at $143,000 after buying an additional 96 shares during the period. Private Advisor Group LLC raised its holdings in Intuit by 17.9% during the second quarter. Private Advisor Group LLC now owns 8,487 shares of the software maker’s stock worth $5,578,000 after purchasing an additional 1,287 shares in the last quarter. Savant Capital LLC lifted its position in Intuit by 4.6% in the second quarter. Savant Capital LLC now owns 2,880 shares of the software maker’s stock valued at $1,893,000 after purchasing an additional 126 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in Intuit by 9.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 18,182 shares of the software maker’s stock valued at $11,949,000 after purchasing an additional 1,533 shares in the last quarter. Finally, Chris Bulman Inc acquired a new position in Intuit during the 2nd quarter worth approximately $988,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.