Intuit (NASDAQ:INTU) Cut to Hold at StockNews.com

StockNews.com cut shares of Intuit (NASDAQ:INTU) from a buy rating to a hold rating in a research note issued to investors on Monday.

Several other research analysts also recently weighed in on the company. Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Finally, Scotiabank reduced their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Price Performance

Shares of Intuit stock opened at $617.51 on Monday. The company has a market capitalization of $172.63 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $603.65 and its 200-day simple moving average is $626.24. Intuit has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,811 shares of company stock worth $142,391,012 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Intuit

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INTU. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its holdings in Intuit by 72.0% during the 4th 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 period. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Intuit in the 4th quarter worth $28,000. 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.