Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell Sells 8,163 Shares

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

Intuit Stock Performance

Shares of INTU traded up $5.63 during mid-day trading on Tuesday, hitting $618.72. 1,126,525 shares of the company’s stock were exchanged, compared to its average volume of 1,441,003. The firm has a market capitalization of $172.97 billion, a P/E ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The business’s 50 day moving average is $595.97 and its two-hundred day moving average is $622.76. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

Institutional Investors Weigh In On Intuit

Several large investors have recently modified their holdings of INTU. Nordea Investment Management AB raised its position in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Intuit during the fourth quarter worth about $621,000. Beacon Investment Advisory Services Inc. raised its holdings in Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after purchasing an additional 1,602 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after purchasing an additional 3,648 shares during the period. Finally, Douglas Lane & Associates LLC boosted its holdings 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 purchasing an additional 12,916 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INTU. Piper Sandler reissued an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Scotiabank reduced their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Mizuho raised their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research note on Wednesday, February 26th. One 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 company. Based on data from MarketBeat.com, the company presently has an average 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.