Intuit (NASDAQ:INTU) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Intuit (NASDAQ:INTU) from a buy rating to a hold rating in a research note published on Monday.

A number of other brokerages also recently weighed in on INTU. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Up 3.3 %

Intuit stock opened at $617.51 on Monday. 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 firm has a market cap of $172.63 billion, a P/E ratio of 59.95, a P/E/G ratio of 2.85 and a beta of 1.24. The business has a fifty day moving average of $603.65 and a two-hundred day moving average of $626.24. Intuit has a twelve month low of $553.24 and a twelve month high of $714.78.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Insider Transactions at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % 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. Also, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,811 shares of company stock worth $142,391,012 over the last 90 days. 2.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuit

Several hedge funds have recently bought and sold shares of INTU. Menard Financial Group LLC purchased a new stake in Intuit during the fourth quarter worth $167,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Intuit in the fourth quarter worth about $237,244,000. Brucke Financial Inc. purchased a new stake in shares of Intuit during the 4th quarter worth about $419,000. Capital A Wealth Management LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $256,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Intuit in the 4th quarter valued at about $28,000. Hedge funds and other 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.