Intuit Inc. (NASDAQ:INTU) CAO Lauren D. Hotz Sells 1,738 Shares of Stock

Intuit Inc. (NASDAQ:INTU) CAO Lauren D. Hotz sold 1,738 shares of Intuit stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the transaction, the chief accounting officer now owns 455 shares of the company’s stock, valued at approximately $356,760.95. This trade represents a 79.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Intuit Stock Up 0.5%

Shares of Intuit stock opened at $776.57 on Friday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $787.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market cap of $216.62 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 3.44 and a beta of 1.28. The firm’s 50-day moving average is $700.54 and its two-hundred day moving average is $638.60.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $9.88 earnings per share. As a group, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit’s dividend payout ratio is presently 33.77%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INTU. Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an “overweight” rating in a research report on Friday, June 13th. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. Morgan Stanley reiterated an “overweight” rating and set a $785.00 price target (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Oppenheimer reissued an “outperform” rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, KeyCorp reaffirmed an “overweight” rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $793.05.

Institutional Investors Weigh In On Intuit

A number of hedge funds have recently made changes to their positions in INTU. Norges Bank purchased a new stake in shares of Intuit during the fourth quarter valued at about $2,290,419,000. GAMMA Investing LLC grew its position in shares of Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after buying an additional 2,821,534 shares during the last quarter. Nuveen LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $882,031,000. Nicholas Hoffman & Company LLC. purchased a new stake in Intuit during the first quarter valued at approximately $785,564,000. Finally, Proficio Capital Partners LLC lifted its position in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the last quarter. 83.66% of the stock is currently 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.