Intuit Inc. (NASDAQ:INTU) Insider Sells $48,976,155.70 in Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Intuit Stock Performance

Shares of Intuit stock opened at $643.39 on Monday. The firm has a fifty day moving average of $644.08 and a two-hundred day moving average of $634.65. 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 market capitalization of $180.10 billion, a price-to-earnings ratio of 62.47, a PEG ratio of 3.31 and a beta of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

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

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

Institutional Investors Weigh In On Intuit

Several large investors have recently bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at $25,000. Fairway Wealth LLC bought a new position in Intuit during the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the third quarter valued at about $27,000. Denver PWM LLC bought a new stake in shares of Intuit in the third quarter worth about $32,000. Finally, Dunhill Financial LLC raised its position in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares during the period. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on INTU shares. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Piper Sandler dropped their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $737.44.

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.