Intuit Inc. (NASDAQ:INTU) EVP Sells $4,999,510.98 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Intuit Price Performance

Shares of NASDAQ INTU traded up $5.63 during mid-day trading on Tuesday, reaching $618.72. The company’s stock had a trading volume of 1,126,525 shares, compared to its average volume of 1,441,003. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The stock has a market capitalization of $172.97 billion, a P/E ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50-day moving average of $595.97 and a two-hundred day moving average of $622.76.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Hedge Funds Weigh In On Intuit

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTU. Eagle Asset Management Inc. increased its holdings in shares of Intuit by 20.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock worth $3,181,000 after buying an additional 799 shares during the last quarter. Kingsview Wealth Management LLC grew its position in Intuit by 28.9% in the third quarter. Kingsview Wealth Management LLC now owns 1,576 shares of the software maker’s stock worth $978,000 after acquiring an additional 353 shares during the period. Penserra Capital Management LLC increased its stake in Intuit by 1.2% during the third quarter. Penserra Capital Management LLC now owns 2,890 shares of the software maker’s stock worth $1,793,000 after acquiring an additional 34 shares during the last quarter. Swedbank AB raised its position in Intuit by 3.5% in the third quarter. Swedbank AB now owns 118,266 shares of the software maker’s stock valued at $73,443,000 after purchasing an additional 4,035 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Intuit by 38.2% in the 3rd quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock valued at $186,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of several recent research reports. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Piper Sandler reiterated an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BMO Capital Markets reduced their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Mizuho raised their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.