Insider Selling: Intuit Inc. (NASDAQ:INTU) Insider Sells $3,895,059.96 in Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Intuit Stock Up 3.3 %

INTU stock opened at $617.51 on Thursday. Intuit Inc. has a 52 week low of $553.24 and a 52 week 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. The firm has a 50-day simple moving average of $603.65 and a 200-day simple moving average of $626.24. The stock has a market capitalization of $172.63 billion, a P/E ratio of 59.95, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analysts Set New Price Targets

Several analysts have recently commented on INTU shares. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $640.00 to $660.00 in a research note on Wednesday. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Hedge Funds Weigh In On Intuit

Hedge funds and other institutional investors have recently made changes to their positions in the company. R Squared Ltd acquired a new position in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC grew its holdings 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 buying an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC purchased a new position in shares of Intuit in the fourth quarter worth about $28,000. 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.