Insider Selling: Edward A. Kangas Sells 10,000 Shares of Intuit Stock (INTU)
Intuit (NASDAQ:INTU) Director Edward A. Kangas sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $82.54, for a total value of $825,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Intuit from a “neutral” rating to an “underperform” rating in a research note on Wednesday. They now have a $80.60 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Intuit in a research note on Friday, August 22nd. They now have a $100.00 price target on the stock, up previously from $89.00. Finally, analysts at Barclays raised their price target on shares of Intuit from $69.00 to $90.00 in a research note on Friday, August 22nd. They now have an “equal weight” rating on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Intuit currently has an average rating of “Hold” and a consensus price target of $81.37.
Shares of Intuit (NASDAQ:INTU) traded up 0.85% on Thursday, hitting $83.36. The stock had a trading volume of 1,749,979 shares. Intuit has a one year low of $62.89 and a one year high of $86.80. The stock has a 50-day moving average of $82.27 and a 200-day moving average of $78.77. The company has a market cap of $23.674 billion and a P/E ratio of 26.77.
Intuit (NASDAQ:INTU) last released its earnings data on Thursday, August 21st. The company reported $0.01 earnings per share (EPS) for the quarter, missing the 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. The company’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts expect that Intuit will post $2.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 20th. Stockholders of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, October 8th. This is a boost from Intuit’s previous quarterly dividend of $0.19.
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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