Intuit Inc. (NASDAQ:INTU) CAO Sells $667,583.84 in Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) CAO Lauren D. Hotz sold 1,078 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company's stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intuit Stock Performance

INTU traded down $10.21 during trading on Monday, reaching $613.22. The company's stock had a trading volume of 1,683,912 shares, compared to its average volume of 1,394,956. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company's fifty day moving average price is $649.58 and its 200-day moving average price is $638.21. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market capitalization of $171.65 billion, a price-to-earnings ratio of 59.54, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. Intuit's quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Friday, January 10th. Intuit's dividend payout ratio is currently 40.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INTU. International Assets Investment Management LLC boosted its stake in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker's stock worth $300,768,000 after acquiring an additional 483,621 shares in the last quarter. Holocene Advisors LP grew its holdings in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock valued at $388,487,000 after purchasing an additional 312,212 shares during the last quarter. Nordea Investment Management AB grew its holdings in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker's stock valued at $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock worth $7,648,910,000 after buying an additional 221,885 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INTU. Jefferies Financial Group boosted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Piper Sandler reissued an "overweight" rating and issued a $765.00 price target on shares of Intuit in a research report on Friday. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a research note on Friday, November 22nd. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Finally, Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.

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