Insider Selling: Intuit Inc. (NASDAQ:INTU) EVP Sells 1,459 Shares of Stock

Intuit Inc. (NASDAQ:INTU) EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The sale was disclosed in a document filed with the SEC, which is available at this link.

Intuit Price Performance

INTU stock opened at $771.58 on Friday. The company has a market capitalization of $215.23 billion, a P/E ratio of 74.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The business has a 50-day simple moving average of $646.24 and a two-hundred day simple moving average of $626.38.

Intuit (NASDAQ:INTU) last released its quarterly earnings results 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. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.88 EPS. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit’s dividend payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Susquehanna reissued a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. KeyCorp reissued an “overweight” rating and set a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. The Goldman Sachs Group increased their price objective on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Finally, Morgan Stanley reissued an “overweight” rating and set a $785.00 price objective (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $785.33.

Hedge Funds Weigh In On Intuit

Several hedge funds have recently modified their holdings of INTU. Brighton Jones LLC lifted its position in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after buying an additional 1,350 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Intuit during the 4th quarter worth approximately $104,278,000. Revolve Wealth Partners LLC lifted its position in shares of Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after buying an additional 482 shares in the last quarter. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Finally, Golden State Equity Partners raised its holdings in shares of Intuit by 140.4% in the 4th quarter. Golden State Equity Partners now owns 327 shares of the software maker’s stock worth $206,000 after purchasing an additional 191 shares during the period. 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.