Intuit (NASDAQ:INTU) Shares Down 1.6% on Insider Selling

Intuit Inc. (NASDAQ:INTU - Get Free Report)'s stock price fell 1.6% during trading on Friday after an insider sold shares in the company. The company traded as low as $642.78 and last traded at $643.88. 598,607 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 1,316,740 shares. The stock had previously closed at $654.24.

Specifically, Director Eve B. Burton sold 2,988 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company's stock, valued at $4,111,853,974.95. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

INTU has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $768.00 price objective (up previously from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Susquehanna reaffirmed a "positive" rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $720.37.

Intuit Stock Performance

The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $636.76 and a 200 day moving average price of $631.46. The firm has a market capitalization of $180.31 billion, a PE ratio of 59.40, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. Research analysts expect that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit's previous quarterly dividend of $0.90. Intuit's dividend payout ratio (DPR) is currently 38.38%.

Institutional Trading of Intuit

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker's stock worth $281,000 after purchasing an additional 16 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker's stock worth $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co raised its holdings in Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker's stock valued at $110,000 after acquiring an additional 16 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker's stock worth $294,000 after acquiring an additional 16 shares during the last quarter. Finally, Hohimer Wealth Management LLC grew its holdings in Intuit by 0.9% during the 4th quarter. Hohimer Wealth Management LLC now owns 1,816 shares of the software maker's stock worth $1,135,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

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.