Intuit Inc. (NASDAQ:INTU) Insider Scott D. Cook Sells 73,655 Shares

by · The Markets Daily

Intuit Inc. (NASDAQ:INTU – Get Free Report) insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Intuit Price Performance

Intuit stock traded up $5.77 during midday trading on Friday, hitting $642.72. The company’s stock had a trading volume of 1,732,876 shares, compared to its average volume of 1,379,366. The company has a market capitalization of $179.91 billion, a PE ratio of 62.40, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. 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 moving average price is $643.54 and its 200-day moving average price is $633.69.

Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the business posted $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s payout ratio is presently 40.39%.

Hedge Funds Weigh In On Intuit

Several hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC boosted its holdings in shares of Intuit by 33.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,408 shares of the software maker’s stock valued at $874,000 after buying an additional 351 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its stake in Intuit by 55.1% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 1,227 shares of the software maker’s stock valued at $762,000 after purchasing an additional 436 shares during the last quarter. Denver PWM LLC bought a new position in Intuit during the third quarter worth about $32,000. American Trust acquired a new position in Intuit during the third quarter worth approximately $1,126,000. Finally, Synovus Financial Corp increased its position in Intuit by 3.2% during the third quarter. Synovus Financial Corp now owns 7,495 shares of the software maker’s stock worth $4,654,000 after buying an additional 231 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Bank of America lifted their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Piper Sandler lowered their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $737.44.

View Our Latest Research Report on Intuit

Intuit Company Profile

(Get Free Report)

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.

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