Intuit (NASDAQ:INTU) Stock Price Down 0.4%

Intuit Inc. (NASDAQ:INTU)’s share price dropped 0.4% during mid-day trading on Friday . The stock traded as low as $604.17 and last traded at $605.77. Approximately 259,497 shares were traded during trading, a decline of 79% from the average daily volume of 1,230,118 shares. The stock had previously closed at $608.38.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. JPMorgan Chase & Co. upped their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Wells Fargo & Company raised their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Piper Sandler raised their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer upped their price objective on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, Susquehanna lifted their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a 50-day moving average price of $643.99 and a 200 day moving average price of $598.45. The company has a market cap of $168.50 billion, a price-to-earnings ratio of 61.81, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. As a group, analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.60%. Intuit’s payout ratio is 36.73%.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 over the last quarter. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuit

Hedge funds have recently bought and sold shares of the business. Sivia Capital Partners LLC lifted its stake in Intuit by 8.5% during the first quarter. Sivia Capital Partners LLC now owns 577 shares of the software maker’s stock worth $375,000 after purchasing an additional 45 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in Intuit by 18.5% during the first quarter. SeaCrest Wealth Management LLC now owns 616 shares of the software maker’s stock worth $400,000 after acquiring an additional 96 shares in the last quarter. Naviter Wealth LLC boosted its stake in shares of Intuit by 20.1% in the 1st quarter. Naviter Wealth LLC now owns 2,506 shares of the software maker’s stock valued at $1,629,000 after purchasing an additional 419 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Intuit by 2.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock worth $429,000 after acquiring an additional 17 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in Intuit in the 1st quarter valued at approximately $229,000. 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.