Intuit Inc. (NASDAQ:INTU) Insider Scott D. Cook Sells 75,000 Shares of Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Intuit Trading Down 0.4 %

Shares of INTU opened at $636.17 on Thursday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock’s 50-day moving average is $634.52 and its two-hundred day moving average is $631.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $178.15 billion, a PE ratio of 61.76, a P/E/G ratio of 3.14 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share. Equities analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders 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 yield of 0.65%. Intuit’s dividend payout ratio is currently 40.39%.

Hedge Funds Weigh In On Intuit

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new position in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the second quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the second quarter valued at $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on INTU shares. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Morgan Stanley raised their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, Piper Sandler lowered their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

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.