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 the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Intuit Trading Down 0.9 %

Shares of INTU stock opened at $622.79 on Friday. The stock has a 50-day simple moving average of $648.62 and a 200 day simple moving average of $637.79. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a market capitalization of $174.33 billion, a P/E ratio of 60.47, a P/E/G ratio of 3.24 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $1.14 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio is 40.39%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” 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. Finally, Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Institutional Investors Weigh In On Intuit

Several hedge funds have recently modified their holdings of INTU. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the second quarter valued at $25,000. Fairway Wealth LLC purchased a new stake in shares of Intuit during the second quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit during the third quarter valued at $27,000. Denver PWM LLC purchased a new stake in Intuit in the 3rd quarter worth about $32,000. Finally, Dunhill Financial LLC lifted its stake in Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after acquiring an additional 32 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

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.