Eve B. Burton Sells 1,702 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Intuit Stock Up 0.6 %

INTU opened at $604.04 on Friday. The company’s 50-day moving average price is $596.08 and its two-hundred day moving average price is $622.80. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The stock has a market cap of $168.87 billion, a price-to-earnings ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Citigroup dropped their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, Piper Sandler reiterated 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $721.61.

Institutional Trading of Intuit

Hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings in Intuit by 2.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock worth $9,149,000 after buying an additional 388 shares during the period. Quest Partners LLC grew its position in shares of Intuit by 203.7% in the third quarter. Quest Partners LLC now owns 1,652 shares of the software maker’s stock valued at $1,026,000 after purchasing an additional 1,108 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of Intuit by 1.8% during the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock valued at $626,000 after purchasing an additional 18 shares during the period. Moors & Cabot Inc. lifted its holdings in Intuit by 6.1% during the 3rd quarter. Moors & Cabot Inc. now owns 657 shares of the software maker’s stock worth $408,000 after purchasing an additional 38 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in Intuit by 4.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,423 shares of the software maker’s stock worth $8,336,000 after purchasing an additional 608 shares during the period. 83.66% of the stock is currently 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.