Diversified LLC Acquires Shares of 318 Intuit Inc. (NASDAQ:INTU)

Diversified LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 318 shares of the software maker’s stock, valued at approximately $209,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. bought a new position in shares of Intuit during the fourth quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter worth approximately $26,000. West Branch Capital LLC grew its position in shares of Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after buying an additional 19 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Intuit in the second quarter valued at approximately $35,000. Finally, Sachetta LLC acquired a new position in Intuit in the fourth quarter valued at approximately $39,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,963 shares of company stock valued at $114,442,445. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU traded down $45.44 during trading on Friday, hitting $619.85. The company had a trading volume of 4,113,425 shares, compared to its average volume of 1,333,187. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The business’s 50-day moving average is $639.27 and its 200 day moving average is $634.44. The company has a market cap of $173.28 billion, a P/E ratio of 57.18, a PEG ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. Equities research analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 33.21%.

Analyst Ratings Changes

INTU has been the topic of several recent research reports. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets upped their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Barclays decreased their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Bank of America lifted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $703.27.

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.