Mark P. Notarainni Sells 363 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) EVP Mark P. Notarainni sold 363 shares of Intuit stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Intuit Stock Down 0.8 %

Shares of NASDAQ:INTU traded down $5.07 during midday trading on Monday, reaching $625.16. 1,260,667 shares of the company were exchanged, compared to its average volume of 1,144,677. The firm has a market cap of $174.99 billion, a PE ratio of 60.70, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a fifty day simple moving average of $649.04 and a two-hundred day simple moving average of $638.38. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Piper Sandler lowered their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Institutional Trading of Intuit

Institutional investors have recently made changes to their positions in the business. Fairway Wealth LLC acquired a new stake in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the third quarter valued at about $27,000. Denver PWM LLC bought a new stake in Intuit during the third quarter worth about $32,000. Trifecta Capital Advisors LLC boosted its position 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 purchasing an additional 35 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in Intuit by 275.0% in the second quarter. HHM Wealth Advisors LLC now owns 60 shares of the software maker’s stock valued at $39,000 after purchasing an additional 44 shares in the last quarter. 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.