Intuit (NASDAQ:INTU) Price Target Raised to $765.00

Intuit (NASDAQ:INTU) had its price objective upped by Mizuho from $750.00 to $765.00 in a research report released on Monday,Benzinga reports. Mizuho currently has an outperform rating on the software maker’s stock.

Several other equities analysts also recently weighed in on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank cut 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. Barclays lowered their price objective 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. Stifel Nicolaus decreased their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Performance

Shares of INTU stock opened at $617.51 on Monday. The company has a 50 day moving average price of $603.65 and a 200-day moving average price of $626.24. 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 capitalization of $172.63 billion, a PE ratio of 59.95, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,811 shares of company stock valued at $142,391,012 over the last quarter. Company insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Brown Financial Advisors increased its position in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC increased its holdings in Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the period. True North Advisors LLC increased its holdings in Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC boosted its stake in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after purchasing an additional 17 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its stake in shares of Intuit by 4.8% in the 3rd quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

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.