Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell Sells 30,159 Shares

Intuit Inc. (NASDAQ:INTU) EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Intuit Stock Performance

Intuit stock opened at $634.74 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company’s 50-day moving average price is $635.93 and its 200-day moving average price is $630.96. The company has a market cap of $177.44 billion, a PE ratio of 58.56, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company posted $0.40 EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s dividend payout ratio is currently 38.38%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INTU. BMO Capital Markets increased their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

Hedge Funds Weigh In On Intuit

Several hedge funds have recently bought and sold shares of INTU. LGT Financial Advisors LLC bought a new stake in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit during the 2nd quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at about $35,000. Finally, Trifecta Capital Advisors LLC increased its holdings in Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after buying an additional 35 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.