Marianna Tessel Sells 34,329 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Marianna Tessel sold 34,329 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the sale, the executive vice president now owns 40,767 shares of the company’s stock, valued at $31,017,164.28. This trade represents a 45.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Marianna Tessel also recently made the following trade(s):

• On Friday, March 21st, Marianna Tessel sold 7,385 shares of Intuit stock. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05.

Intuit Trading Up 0.6%

Shares of INTU stock opened at $771.58 on Friday. The firm has a market capitalization of $215.23 billion, a P/E ratio of 74.91, a P/E/G ratio of 2.85 and a beta of 1.28. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $646.24 and its 200 day simple moving average is $626.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.88 EPS. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit’s dividend payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INTU. The Goldman Sachs Group lifted their price objective on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a report on Monday, May 19th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $825.00 price objective (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $820.00 price objective (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

Institutional Investors Weigh In On Intuit

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Peloton Wealth Strategists grew its position in Intuit by 0.3% during the 1st quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker’s stock worth $2,710,000 after acquiring an additional 15 shares during the last quarter. Decatur Capital Management Inc. increased its stake in shares of Intuit by 0.3% in the first quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker’s stock valued at $3,069,000 after buying an additional 16 shares during the period. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Ethos Financial Group LLC increased its stake in shares of Intuit by 3.7% in the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock valued at $319,000 after buying an additional 18 shares during the period. Finally, Legacy Investment Solutions LLC increased its stake in shares of Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock valued at $68,000 after buying an additional 18 shares during the period. Institutional investors 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.