Diversify Wealth Management LLC Acquires 463 Shares of Intuit Inc. (NASDAQ:INTU)

Diversify Wealth Management LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 18.8% during the 3rd quarter, Holdings Channel reports. The firm owned 2,928 shares of the software maker’s stock after purchasing an additional 463 shares during the quarter. Diversify Wealth Management LLC’s holdings in Intuit were worth $1,763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pinnacle Associates Ltd. boosted its position in shares of Intuit by 1.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,328 shares of the software maker’s stock valued at $830,000 after purchasing an additional 22 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Intuit by 11.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,561 shares of the software maker’s stock valued at $5,937,000 after purchasing an additional 1,003 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Intuit during the 3rd quarter valued at about $90,000. Trajan Wealth LLC boosted its position in shares of Intuit by 12.3% during the 3rd quarter. Trajan Wealth LLC now owns 25,514 shares of the software maker’s stock valued at $15,844,000 after purchasing an additional 2,787 shares in the last quarter. Finally, Mutual Advisors LLC boosted its position in shares of Intuit by 21.5% during the 3rd quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock valued at $1,625,000 after purchasing an additional 476 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $621.11 on Thursday. The business’s fifty day simple moving average is $623.98 and its 200 day simple moving average is $626.49. The firm has a market capitalization of $173.63 billion, a P/E ratio of 57.30, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. Intuit Inc. has a 12 month low of $481.94 and a 12 month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $0.40 earnings per share. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus increased their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

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.