Intuit CEO Brad D. Smith Sells 21,000 Shares (INTU)
Intuit (NASDAQ:INTU) CEO Brad D. Smith unloaded 21,000 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $82.24, for a total value of $1,727,040.00. Following the sale, the chief executive officer now directly owns 234,091 shares in the company, valued at approximately $19,251,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Intuit (NASDAQ:INTU) traded down 0.31% during mid-day trading on Tuesday, hitting $82.64. 1,750,677 shares of the company’s stock traded hands. Intuit has a 52 week low of $62.89 and a 52 week high of $86.80. The stock’s 50-day moving average is $82.23 and its 200-day moving average is $78.69. The company has a market cap of $23.470 billion and a P/E ratio of 26.85.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 21st. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.07 by $0.06. The company had revenue of $714.00 million for the quarter, compared to the consensus estimate of $699.49 million. Intuit’s revenue was up 12.6% compared to the same quarter last year. On average, analysts predict that Intuit will post $2.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 20th. Shareholders of record on Friday, October 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $0.19.
A number of analysts have recently weighed in on INTU shares. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Intuit in a research note on Friday. They now have a $100.00 price target on the stock, up previously from $89.00. Separately, analysts at Barclays raised their price target on shares of Intuit from $69.00 to $90.00 in a research note on Friday. They now have an “equal weight” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of Intuit from $87.00 to $95.00 in a research note on Friday. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $81.43.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.
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