Diversify Advisory Services LLC Lowers Holdings in Intuit Inc. (NASDAQ:INTU)

Diversify Advisory Services LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 19.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,937 shares of the software maker’s stock after selling 722 shares during the period. Diversify Advisory Services LLC’s holdings in Intuit were worth $1,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Northwest Investment Counselors LLC acquired a new stake in Intuit in the third quarter valued at approximately $27,000. Denver PWM LLC purchased a new stake in shares of Intuit during the 3rd quarter worth approximately $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 worth $38,000 after purchasing an additional 32 shares during the last quarter. Groupama Asset Managment lifted its stake in Intuit by 10.6% in 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 last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Intuit in the second quarter valued at approximately $49,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $604.13 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The business’s 50-day simple moving average is $646.09 and its 200 day simple moving average is $636.77. The company has a market cap of $169.11 billion, a P/E ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTUGet Free Report) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company posted $1.14 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on INTU shares. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus lowered 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. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

View Our Latest Stock Analysis on INTU

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTUFree Report).

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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