Laura A. Fennell Sells 8,163 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Intuit Trading Down 0.6 %

Shares of Intuit stock opened at $614.86 on Thursday. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The company’s fifty day simple moving average is $595.84 and its 200-day simple moving average is $622.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $171.89 billion, a PE ratio of 59.70, a P/E/G ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INTU. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Institutional Trading of Intuit

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. State Street Corp boosted its position in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the period. Geode Capital Management LLC raised its position in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the period. Wellington Management Group LLP raised its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares in the last quarter. 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.