Intuit Inc. (NASDAQ:INTU) EVP Sells $4,431,960.05 in 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 stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Intuit Stock Performance

NASDAQ:INTU opened at $618.72 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $172.97 billion, a PE ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27. The firm has a 50 day simple moving average of $595.97 and a 200-day simple moving average of $622.76. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in Intuit in the 4th quarter worth about $25,000. Copia Wealth Management purchased a new position in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC boosted its position in shares of 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 during the last quarter. Heck Capital Advisors LLC purchased a new stake in Intuit in the fourth quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

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.