Intuit Inc. (NASDAQ:INTU) Stock Position Raised by Diversify Wealth Management LLC

Diversify Wealth Management LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 102.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,929 shares of the software maker’s stock after buying an additional 3,001 shares during the period. Diversify Wealth Management LLC’s holdings in Intuit were worth $3,696,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INTU. Northwest Investment Counselors LLC acquired a new position in Intuit in the 3rd quarter worth approximately $27,000. Denver PWM LLC acquired a new stake in shares of Intuit in the third quarter worth $32,000. Dunhill Financial LLC grew its holdings in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after buying an additional 32 shares in the last quarter. Groupama Asset Managment raised its position in Intuit by 10.6% during the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after buying an additional 720 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in Intuit in the 2nd quarter worth about $49,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

INTU opened at $604.13 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 stock’s 50 day moving average price is $646.09 and its two-hundred day moving average price is $636.93. The firm has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the company posted $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s payout ratio is 40.39%.

Analyst Upgrades and Downgrades

INTU has been the topic of several research analyst reports. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Barclays decreased their target price 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 dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Activity

In other news, CFO Sandeep Aujla sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total transaction of $814,346.00. Following the completion of the transaction, the chief financial officer now directly owns 644 shares of the company’s stock, valued at approximately $403,414.48. This trade represents a 66.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit 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.