Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton Sells 2,988 Shares

Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $644.99 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $180.31 billion, a P/E ratio of 59.50, a P/E/G ratio of 3.14 and a beta of 1.24. The business has a 50-day moving average of $636.82 and a two-hundred day moving average of $631.24. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. Intuit’s payout ratio is currently 38.38%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INTU. BMO Capital Markets raised their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Citigroup upped their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Institutional Investors Weigh In On Intuit

A number of hedge funds have recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the second quarter worth $35,000. Finally, Trifecta Capital Advisors LLC increased its position in Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after acquiring an additional 35 shares during the period. 83.66% of the stock is currently owned by institutional investors.

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.