Intuit Inc. (NASDAQ:INTU) EVP Sells $19,293,708.00 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the sale, the executive vice president now owns 22,796 shares of the company’s stock, valued at approximately $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Intuit Stock Down 0.7%

Shares of Intuit stock opened at $752.04 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $210.24 billion, a P/E ratio of 73.01, a PEG ratio of 2.85 and a beta of 1.24. The firm’s 50 day moving average price is $630.69 and its 200-day moving average price is $623.50. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $761.02.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $9.88 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio is currently 33.77%.

Analysts Set New Price Targets

Several research firms recently commented on INTU. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a “buy” rating in a research report on Friday, May 23rd. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target for the company in a report on Wednesday, April 23rd. Wall Street Zen raised Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group lifted their target price on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

Institutional Investors Weigh In On Intuit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Intuit during the 4th quarter valued at approximately $104,278,000. Foundations Investment Advisors LLC raised its holdings in shares of Intuit by 65.7% in the fourth quarter. Foundations Investment Advisors LLC now owns 666 shares of the software maker’s stock worth $419,000 after buying an additional 264 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after buying an additional 482 shares during the period. Finally, Perigon Wealth Management LLC grew its holdings in shares of Intuit by 3.5% during the fourth quarter. Perigon Wealth Management LLC now owns 4,793 shares of the software maker’s stock valued at $2,911,000 after buying an additional 162 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other 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.