Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi Sells 26,562 Shares

Intuit Inc. (NASDAQ:INTU) CEO Sasan K. Goodarzi sold 26,562 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the sale, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. This trade represents a 41.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Intuit Price Performance

Intuit stock opened at $625.16 on Tuesday. 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 company’s fifty day moving average price is $649.30 and its 200 day moving average price is $638.45. The stock has a market capitalization of $174.99 billion, a P/E ratio of 60.70, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

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

Intuit Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Piper Sandler lowered their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Institutional Trading of Intuit

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares in the last quarter. Holocene Advisors LP grew its stake in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares in the last quarter. Nordea Investment Management AB raised its holdings in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Intuit by 1.8% during the 3rd 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 last quarter. 83.66% of the stock is currently 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.