Insider Selling: Intuit Inc. (NASDAQ:INTU) CEO Sells 75,000 Shares of Stock

Intuit Inc. (NASDAQ:INTU - Get Free Report) CEO Sasan K. Goodarzi sold 75,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This represents a 67.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Intuit Stock Down 0.9 %

Intuit stock traded down $5.71 during trading hours on Thursday, hitting $622.79. The stock had a trading volume of 1,005,704 shares, compared to its average volume of 1,378,204. The stock's 50-day moving average price is $648.62 and its 200-day moving average price is $637.79. The stock has a market capitalization of $174.33 billion, a P/E ratio of 60.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit's dividend payout ratio (DPR) is 40.39%.

Hedge Funds Weigh In On Intuit

Several hedge funds and other institutional investors have recently bought and sold shares of INTU. LGT Financial Advisors LLC purchased a new stake in Intuit during the second quarter valued at $25,000. Fairway Wealth LLC purchased a new stake in shares of Intuit during the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the 3rd quarter worth approximately $27,000. Denver PWM LLC purchased a new position in shares of Intuit in the third quarter worth approximately $32,000. Finally, Trifecta Capital Advisors LLC grew its position in Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker's stock valued at $39,000 after buying an additional 35 shares during the period. Institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research analyst reports. StockNews.com downgraded Intuit from a "buy" rating to a "hold" rating in a report on Friday, December 20th. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Morgan Stanley lifted their price target on shares of Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $737.44.

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.