Marianna Tessel Sells 7,385 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Intuit Stock Up 0.9 %

Intuit stock opened at $618.72 on Wednesday. The company has a market capitalization of $172.97 billion, a P/E ratio of 60.07, a PEG ratio of 2.85 and a beta of 1.27. 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 fifty-two week low of $553.24 and a fifty-two week high of $714.78. The stock has a 50-day simple moving average of $595.97 and a 200-day simple moving average of $622.76.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Analyst Ratings Changes

INTU has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Citigroup dropped their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $721.61.

Institutional Investors Weigh In On Intuit

Institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd acquired a new position in Intuit in the 4th quarter valued at about $25,000. Copia Wealth Management acquired a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its stake 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 during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter valued at $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.