Laura A. Fennell Sells 7,700 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the sale, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Intuit Trading Up 3.6 %

Shares of INTU traded up $23.49 during mid-day trading on Wednesday, reaching $670.56. 1,868,420 shares of the company’s stock traded hands, compared to its average volume of 1,365,645. The stock has a market cap of $187.70 billion, a P/E ratio of 64.38, a P/E/G ratio of 3.19 and a beta of 1.25. The stock’s 50-day moving average is $636.41 and its two-hundred day moving average is $630.71. Intuit Inc. has a 12 month low of $557.29 and a 12 month 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 released 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. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. Intuit’s dividend payout ratio is 40.39%.

Analyst Ratings Changes

INTU has been the subject of a number of research analyst reports. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INTU. State Street Corp boosted its holdings in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the period. Geode Capital Management LLC lifted its holdings in 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 lifted its holdings in Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after buying an additional 107,482 shares during the period. Legal & General Group Plc lifted its holdings in Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intuit by 4.0% during 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 worth $1,428,790,000 after buying an additional 87,517 shares during the period. 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.