Intuit Inc. (NASDAQ:INTU) EVP Marianna Tessel Sells 7,385 Shares

Intuit Inc. (NASDAQ:INTU) EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Intuit Trading Up 1.5 %

Shares of INTU opened at $613.09 on Tuesday. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The firm has a market capitalization of $171.40 billion, a price-to-earnings ratio of 59.52, a PEG ratio of 2.85 and a beta of 1.27. The firm’s 50-day moving average price is $596.08 and its 200-day moving average price is $622.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is 38.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new position in Intuit in the fourth quarter worth $25,000. Copia Wealth Management bought a new position in shares of Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC lifted its position in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter worth about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INTU. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. BMO Capital Markets cut their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Finally, Citigroup cut their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

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.