Intuit (NASDAQ:INTU) Trading Up 0.3%

Intuit Inc. (NASDAQ:INTU)’s stock price was up 0.3% during mid-day trading on Friday . The stock traded as high as $650.00 and last traded at $648.50. Approximately 164,355 shares traded hands during trading, a decline of 88% from the average daily volume of 1,319,302 shares. The stock had previously closed at $646.37.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Citigroup increased their price objective on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price (up from $760.00) on shares of Intuit in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit Trading Up 1.8 %

The stock has a fifty day moving average price of $636.90 and a 200 day moving average price of $632.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $184.43 billion, a PE ratio of 59.82, a PEG ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the company earned $0.40 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.63%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,940 shares of company stock valued at $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Intuit

Several hedge funds have recently modified their holdings of the stock. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter valued at $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the second quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the second quarter valued at about $35,000. Finally, Sachetta LLC bought a new stake in shares of Intuit during the fourth quarter valued at about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

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.