Intuit Inc. (NASDAQ:INTU) Insider Sells $48,136,500.00 in Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $2.66 during midday trading on Wednesday, reaching $636.17. The company’s stock had a trading volume of 1,370,431 shares, compared to its average volume of 1,364,688. 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 firm has a market capitalization of $178.15 billion, a PE ratio of 62.02, a P/E/G ratio of 3.14 and a beta of 1.25. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock has a fifty day moving average of $634.46 and a 200 day moving average of $631.29.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Announces Dividend

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

Institutional Investors Weigh In On Intuit

Institutional investors and hedge funds have recently modified their holdings of the company. Harvest Portfolios Group Inc. boosted its holdings in Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the last quarter. GAMMA Investing LLC increased its holdings in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares during the last quarter. Retireful LLC bought a new position in shares of Intuit during the third quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit during the third quarter valued at approximately $56,144,000. Finally, Cetera Advisors LLC grew its holdings in Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after buying an additional 2,655 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several analyst reports. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays reduced their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.