Marianna Tessel Sells 7,385 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Marianna Tessel sold 7,385 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares of the company’s stock, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Intuit Stock Up 1.5 %

INTU stock traded up $9.05 during trading hours on Monday, hitting $613.09. The company’s stock had a trading volume of 1,702,978 shares, compared to its average volume of 1,439,823. The company has a market capitalization of $171.40 billion, a PE ratio of 59.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock has a 50 day moving average price of $596.08 and a two-hundred day moving average price of $622.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. Piper Sandler reissued an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Institutional Trading of Intuit

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit in the fourth quarter valued at approximately $621,000. Beacon Investment Advisory Services Inc. lifted its stake in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after buying an additional 1,602 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after buying an additional 3,648 shares during the period. Finally, Douglas Lane & Associates LLC grew its stake in Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after buying an additional 12,916 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

About Intuit

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.