Insider Selling: Intuit Inc. (NASDAQ:INTU) Director Sells 1,702 Shares of Stock

Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. This trade represents a 99.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Intuit Stock Performance

Intuit stock traded up $3.62 during midday trading on Friday, hitting $604.04. The stock had a trading volume of 2,387,403 shares, compared to its average volume of 1,436,593. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The firm’s fifty day moving average is $596.47 and its two-hundred day moving average is $623.00. The company has a market capitalization of $168.87 billion, a PE ratio of 58.64, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio is presently 38.81%.

Institutional Trading of Intuit

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter valued at $25,000. Copia Wealth Management acquired a new stake in Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Intuit during the fourth quarter worth about $28,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INTU shares. BMO Capital Markets decreased their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Scotiabank reduced their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average 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.