Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells 4,788 Shares of Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Intuit Trading Up 1.7 %

Intuit stock traded up $10.62 during midday trading on Wednesday, reaching $626.05. The stock had a trading volume of 1,226,016 shares, compared to its average volume of 1,138,095. The stock’s 50-day simple moving average is $649.24 and its 200 day simple moving average is $638.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. 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 $175.24 billion, a PE ratio of 60.78, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25.

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

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Hedge Funds Weigh In On Intuit

Several hedge funds and other institutional investors have recently made changes to their positions in the business. First Hawaiian Bank raised its position in Intuit by 4.8% in the fourth quarter. First Hawaiian Bank now owns 7,645 shares of the software maker’s stock valued at $4,805,000 after purchasing an additional 347 shares during the period. Douglas Lane & Associates LLC grew its stake in shares of Intuit by 109.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after buying an additional 12,916 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Intuit by 19.7% during the 4th quarter. Fulton Bank N.A. now owns 2,233 shares of the software maker’s stock valued at $1,403,000 after buying an additional 367 shares during the period. Spartan Planning & Wealth Management acquired a new position in Intuit during the 4th quarter worth approximately $358,000. Finally, Diversified Trust Co boosted its holdings in Intuit by 28.9% in the 4th quarter. Diversified Trust Co now owns 6,912 shares of the software maker’s stock worth $4,344,000 after acquiring an additional 1,549 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on INTU. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

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.