Intuit Inc. (NASDAQ:INTU) Insider Sells $3,895,059.96 in Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $19.44 during midday trading on Wednesday, hitting $617.51. 1,614,913 shares of the company's stock were exchanged, compared to its average volume of 1,910,791. 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's 50 day moving average price is $603.65 and its 200-day moving average price is $626.24. The firm has a market cap of $172.63 billion, a P/E ratio of 59.95, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78.

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 given a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit's dividend payout ratio (DPR) is 38.81%.

Analyst Ratings Changes

INTU has been the subject of several research analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $640.00 to $660.00 in a report on Wednesday. BMO Capital Markets lowered 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. Oppenheimer boosted their price objective on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Finally, StockNews.com lowered Intuit from a "buy" rating to a "hold" rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $721.61.

Institutional Investors Weigh In On Intuit

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the period. State Street Corp increased its holdings in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock valued at $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker's stock valued at $2,376,984,000 after buying an additional 107,482 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Company Profile

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.