Intuit Inc. (NASDAQ:INTU) Director Sells $1,941,811.56 in Stock

Intuit Inc. (NASDAQ:INTU) Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction 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.

Intuit Stock Down 1.4 %

INTU stock opened at $644.99 on Friday. The firm has a market capitalization of $180.31 billion, a PE ratio of 59.50, a PEG ratio of 3.14 and a beta of 1.24. 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 stock has a 50-day simple moving average of $636.82 and a two-hundred day simple moving average of $631.30. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. On average, equities analysts predict that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

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

Analysts Set New Price Targets

INTU has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Citigroup lifted their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. Jefferies Financial Group lifted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Barclays decreased their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $720.37.

Institutional Trading of Intuit

A number of large investors have recently modified their holdings of INTU. LGT Financial Advisors LLC bought a new stake in Intuit in the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Intuit in the 2nd quarter worth approximately $35,000. Finally, Trifecta Capital Advisors LLC lifted its position in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after buying an additional 35 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

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.