Intuit (NASDAQ:INTU) Stock Price Down 2.3%

Shares of Intuit Inc. (NASDAQ:INTU) fell 2.3% during mid-day trading on Thursday . The stock traded as low as $620.72 and last traded at $620.76. 207,273 shares were traded during trading, a decline of 83% from the average session volume of 1,237,188 shares. The stock had previously closed at $635.49.

Wall Street Analyst Weigh In

INTU has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Oppenheimer increased their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Barclays lifted their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Evercore ISI increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Piper Sandler boosted their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Intuit Price Performance

The company has a market cap of $175.39 billion, a P/E ratio of 63.34, a P/E/G ratio of 3.84 and a beta of 1.21. The company’s 50-day moving average price is $641.40 and its 200-day moving average price is $601.86. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. As a group, sell-side analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is presently 36.73%.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by insiders.

Institutional Trading of Intuit

Several institutional investors and hedge funds have recently bought and sold shares of the business. Founders Financial Securities LLC increased its stake in shares of Intuit by 9.6% during the third quarter. Founders Financial Securities LLC now owns 640 shares of the software maker’s stock worth $327,000 after purchasing an additional 56 shares during the period. Meridian Wealth Management LLC boosted its position in shares of Intuit by 77.3% in the third quarter. Meridian Wealth Management LLC now owns 2,340 shares of the software maker’s stock valued at $1,196,000 after acquiring an additional 1,020 shares during the period. Boston Trust Walden Corp grew its stake in shares of Intuit by 1.5% in the third quarter. Boston Trust Walden Corp now owns 3,683 shares of the software maker’s stock valued at $1,882,000 after acquiring an additional 56 shares in the last quarter. Strategic Blueprint LLC bought a new position in Intuit during the third quarter worth about $221,000. Finally, SS&H Financial Advisors Inc. acquired a new stake in Intuit in the 3rd quarter worth about $652,000. 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.