Intuit (NASDAQ:INTU) Stock Price Down 0.5% on Insider Selling
Intuit (NASDAQ:INTU) shares fell 0.5% after insider selling by EVP Alex G. Balazs, who sold 2,941 shares at an average price of $76. The stock traded as low as $34 and closed at $64, with a significant drop in trading volume. Analysts have mixed ratings, with a consensus of "Moderate Buy" and an average price target of $137. Intuit recently reported strong quarterly earnings, beating estimates, and announced a dividend increase to $0.04, reflecting a 0.65% yield.
Shares of Intuit Inc. (NASDAQ:INTU - Get Free Report) traded down 0.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $638.34 and last traded at $640.64. 153,658 shares changed hands during trading, a decline of 88% from the average session volume of 1,320,195 shares. The stock had previously closed at $643.92.
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Specifically, EVP Alex G. Balazs sold 2,941 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Intuit from $725.00 to $750.00 and gave the stock an "overweight" rating in a report on Tuesday, May 21st. Morgan Stanley downgraded shares of Intuit from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Citigroup lifted their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a "buy" rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their price target on shares of Intuit from $585.00 to $600.00 and gave the company a "neutral" rating in a report on Friday, August 23rd. Finally, Susquehanna restated a "positive" rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $720.37.
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View Our Latest Research Report on INTU
Intuit Price Performance
The stock has a market capitalization of $179.66 billion, a PE ratio of 59.10, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $637.17 and a 200 day moving average price of $631.98.
- Intuit Beats Q4 Earnings: AI, Dividends, and a Growth Strategy
Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business's quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Research analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current year.
Intuit Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit's dividend payout ratio is 38.38%.
Institutional Trading of Intuit
Several institutional investors and hedge funds have recently modified their holdings of the company. Intech Investment Management LLC raised its holdings in Intuit by 134.7% during the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker's stock valued at $2,991,000 after acquiring an additional 2,641 shares during the period. Parnassus Investments LLC raised its stake in Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker's stock valued at $836,377,000 after purchasing an additional 727,185 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Intuit by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker's stock worth $112,381,000 after purchasing an additional 1,990 shares in the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker's stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. Finally, Cetera Advisors LLC grew its holdings in Intuit by 33.4% during the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker's stock valued at $6,895,000 after buying an additional 2,655 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.
Intuit Company Profile
(Get Free Report)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.
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