Kerry J. Mclean Sells 16,700 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Kerry J. Mclean sold 16,700 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president now owns 23,101 shares of the company’s stock, valued at $16,844,325.16. This represents a 41.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Intuit Stock Performance

Shares of INTU opened at $752.04 on Friday. The business has a 50-day simple moving average of $630.69 and a two-hundred day simple moving average of $623.50. 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 Inc. has a 52 week low of $532.65 and a 52 week high of $761.02. The stock has a market cap of $210.24 billion, a price-to-earnings ratio of 73.01, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the company posted $9.88 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Institutional Trading of Intuit

Several institutional investors and hedge funds have recently modified their holdings of INTU. R Squared Ltd purchased a new stake in Intuit in the 4th quarter worth $25,000. Copia Wealth Management bought a new position in shares of Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter worth approximately $28,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Citigroup reiterated a “buy” rating and issued a $789.00 price objective (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group lifted their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Mizuho increased their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Redburn Atlantic began coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Stifel Nicolaus boosted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $785.33.

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.