Insider Selling: Intuit Inc. (NASDAQ:INTU) CEO Sells 75,000 Shares of Stock

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Intuit Trading Up 1.2 %

NASDAQ INTU opened at $630.23 on Friday. The firm has a market cap of $176.41 billion, a PE ratio of 61.19, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The stock has a 50-day moving average of $649.04 and a 200-day moving average of $637.98. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Friday, January 10th. Intuit’s payout ratio is 40.39%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler cut their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $737.44.

Institutional Trading of Intuit

Institutional investors have recently modified their holdings of the company. LGT Financial Advisors LLC bought a new position in Intuit during the 2nd quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new position in shares of Intuit during the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the third quarter valued at approximately $27,000. Denver PWM LLC purchased a new stake in Intuit in the third quarter worth $32,000. Finally, Dunhill Financial LLC boosted its holdings in Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

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.