Intuit Inc. (NASDAQ:INTU) Insider Sells $3,895,059.96 in Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Intuit Stock Performance

NASDAQ:INTU opened at $601.09 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a market cap of $168.04 billion, a price-to-earnings ratio of 58.36, a PEG ratio of 2.85 and a beta of 1.24. The stock has a fifty day moving average price of $605.15 and a 200-day moving average price of $626.69.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s payout ratio is 38.81%.

Hedge Funds Weigh In On Intuit

Several hedge funds have recently bought and sold shares of INTU. Menard Financial Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $167,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Intuit during the fourth quarter worth $237,244,000. Brucke Financial Inc. acquired a new stake in shares of Intuit in the 4th quarter valued at $419,000. Capital A Wealth Management LLC bought a new position in shares of Intuit in the 4th quarter valued at $256,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter worth $28,000. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.50.

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.