Insider Selling: Intuit Inc. (NASDAQ:INTU) Director Sells 1,702 Shares of Stock

Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Intuit Stock Performance

Shares of INTU stock opened at $604.04 on Friday. The company has a market capitalization of $168.87 billion, a P/E ratio of 58.64, a PEG 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 company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day moving average price of $596.08 and a two-hundred day moving average price of $622.80.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research analyst reports. 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 research report on Wednesday, March 5th. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BMO Capital Markets lowered their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Institutional Investors Weigh In On Intuit

A number of large investors have recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter worth about $25,000. Copia Wealth Management bought a new position in Intuit during the 4th quarter valued at approximately $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Summit Securities Group LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $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.