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

Intuit Inc. (NASDAQ:INTU - Get Free Report) EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. This represents a 15.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Intuit Price Performance

Shares of NASDAQ INTU traded down $15.03 during midday trading on Friday, reaching $600.28. 518,964 shares of the stock traded hands, compared to its average volume of 1,438,742. The company's 50 day moving average is $596.00 and its 200 day moving average is $622.66. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The stock has a market capitalization of $167.81 billion, a PE ratio of 58.32, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit's payout ratio is currently 38.81%.

Institutional Trading of Intuit

Hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Intuit during the fourth quarter worth approximately $25,000. Copia Wealth Management bought a new position in shares of Intuit during the 4th quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings 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 buying an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in Intuit in the fourth quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the fourth quarter worth $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Piper Sandler reiterated an "overweight" rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley upgraded shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective on the stock in a research report on Wednesday, February 26th. One 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $721.61.

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.