Intuit Inc. (NASDAQ:INTU) EVP Sells $4,431,960.05 in Stock

Intuit Inc. (NASDAQ:INTU) EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Intuit Stock Performance

NASDAQ:INTU opened at $613.09 on Tuesday. 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 simple moving average of $596.08 and a two-hundred day simple moving average of $622.74. The firm has a market capitalization of $171.40 billion, a PE ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Institutional Investors Weigh In On Intuit

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in Intuit during the fourth quarter valued at about $621,000. Beacon Investment Advisory Services Inc. lifted its position in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after acquiring an additional 1,602 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after acquiring an additional 3,648 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in Intuit by 109.9% during 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 during the period. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on INTU. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. BMO Capital Markets lowered their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.