Intuit Inc. (NASDAQ:INTU) Insider Scott D. Cook Sells 2,461 Shares

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Intuit Price Performance

NASDAQ:INTU opened at $654.24 on Friday. The firm has a market cap of $182.89 billion, a PE ratio of 60.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company’s 50-day moving average price is $636.76 and its two-hundred day moving average price is $631.46. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities analysts anticipate that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Analyst Ratings Changes

A number of research analysts have recently commented on INTU shares. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup increased their target price on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Piper Sandler restated an “overweight” rating and set a $768.00 price target (up from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Institutional Investors Weigh In On Intuit

Institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Intuit by 84.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 93,025 shares of the software maker’s stock worth $61,137,000 after buying an additional 42,685 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $786,000. Sanctuary Advisors LLC bought a new position in Intuit during the 2nd quarter worth approximately $12,334,000. Brown Financial Advisors acquired a new position in Intuit during the second quarter valued at approximately $1,067,000. Finally, Sycomore Asset Management increased its stake in Intuit by 23.7% in the second quarter. Sycomore Asset Management now owns 31,553 shares of the software maker’s stock valued at $20,114,000 after purchasing an additional 6,039 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

About Intuit

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.