Diversify Wealth Management LLC Has $4.28 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Diversify Wealth Management LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 15.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,866 shares of the software maker's stock after acquiring an additional 937 shares during the quarter. Diversify Wealth Management LLC's holdings in Intuit were worth $4,279,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Norges Bank acquired a new stake in Intuit during the 4th quarter valued at $2,290,419,000. Finally, Brown Advisory Inc. lifted its holdings in Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after purchasing an additional 252,265 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INTU. Citigroup reissued a "buy" rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $850.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Oppenheimer reissued an "outperform" rating and set a $742.00 target price (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $800.55.

Intuit Price Performance

INTU remained flat at $747.90 during trading hours on Friday. The company had a trading volume of 1,047,778 shares, compared to its average volume of 1,621,283. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The stock has a market cap of $208.63 billion, a PE ratio of 60.71, a PEG ratio of 3.33 and a beta of 1.27. The business has a fifty day moving average of $733.03 and a 200-day moving average of $646.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the company posted $9.88 earnings per share. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.56%. Intuit's payout ratio is 33.77%.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider owned 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the sale, the chief financial officer owned 197 shares of the company's stock, valued at $143,047.61. The trade was a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 over the last three months. 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.