Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells $228,145.50 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni sold 363 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $11,941.50. The trade was a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Intuit Price Performance

Shares of INTU stock opened at $626.05 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company 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. The firm’s 50-day moving average is $649.24 and its two-hundred day moving average is $638.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 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 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. Analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The business 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 $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.66%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Analysts Set New Price Targets

A number of research firms recently issued reports on INTU. Piper Sandler dropped their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $737.44.

Institutional Inflows and Outflows

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

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.