Sasan K. Goodarzi Sells 75,000 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Intuit Trading Up 1.2 %

INTU opened at $630.23 on Friday. The stock has a market capitalization of $176.41 billion, a PE ratio of 61.19, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business’s 50 day moving average price is $648.62 and its 200 day moving average price is $637.79.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. As a group, equities research analysts expect that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s dividend payout ratio is currently 40.39%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INTU shares. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reduced their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Institutional Trading of Intuit

Institutional investors have recently added to or reduced their stakes in the stock. Jackson Creek Investment Advisors LLC purchased a new position in shares of Intuit during the second quarter worth $392,000. Oregon Public Employees Retirement Fund lifted its stake in Intuit by 0.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 24,043 shares of the software maker’s stock worth $15,801,000 after acquiring an additional 95 shares in the last quarter. Founders Financial Securities LLC boosted its holdings in Intuit by 19.9% during the 2nd quarter. Founders Financial Securities LLC now owns 862 shares of the software maker’s stock valued at $567,000 after acquiring an additional 143 shares during the period. First National Trust Co grew its position in Intuit by 3.7% in the 2nd quarter. First National Trust Co now owns 999 shares of the software maker’s stock valued at $657,000 after acquiring an additional 36 shares in the last quarter. Finally, Fortis Capital Advisors LLC increased its stake in Intuit by 9.4% during the second quarter. Fortis Capital Advisors LLC now owns 781 shares of the software maker’s stock worth $513,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds 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.