Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells $4,999,510.98 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Intuit Price Performance

Shares of NASDAQ INTU opened at $615.30 on Friday. The stock has a market cap of $172.01 billion, a price-to-earnings ratio of 59.74, a PEG ratio of 2.85 and a beta of 1.27. 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 firm’s 50-day simple moving average is $596.00 and its 200 day simple moving average is $622.66.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s payout ratio is 38.81%.

Institutional Investors Weigh In On Intuit

Several institutional investors have recently bought and sold shares of INTU. R Squared Ltd purchased a new position in Intuit during the 4th quarter worth $25,000. Copia Wealth Management bought a new position in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter valued at about $28,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Piper Sandler reiterated an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. BMO Capital Markets dropped their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.