Laura A. Fennell Sells 4,788 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 4,788 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value 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 approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Intuit Stock Performance

Intuit stock opened at $626.05 on Thursday. The firm has a market capitalization of $175.24 billion, a P/E ratio of 60.78, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The company’s 50-day moving average is $649.24 and its 200 day moving average is $638.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. Research analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The firm 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 0.66%. The ex-dividend date is Friday, January 10th. Intuit’s payout ratio is 40.39%.

Institutional Trading of Intuit

Several hedge funds and other institutional investors have recently bought and sold shares of INTU. State Street Corp raised its position in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the period. Geode Capital Management LLC increased its stake in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares during the period. Fisher Asset Management LLC increased its position in shares of Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares during the last quarter. Legal & General Group Plc raised its stake in Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after buying an additional 23,995 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, Barclays cut their price objective on 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average 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.