Intuit Inc. (NASDAQ:INTU) Stock Position Raised by Diversified Trust Co

Diversified Trust Co lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 3,149 shares of the software maker’s stock after purchasing an additional 44 shares during the quarter. Diversified Trust Co’s holdings in Intuit were worth $2,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. Glenmede Trust Co. NA increased its holdings in shares of Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after purchasing an additional 2,074 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Intuit by 31.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,179 shares of the software maker’s stock valued at $6,734,000 after acquiring an additional 3,185 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Intuit by 53.1% in the third quarter. Axxcess Wealth Management LLC now owns 10,334 shares of the software maker’s stock worth $5,280,000 after acquiring an additional 3,586 shares during the last quarter. AXQ Capital LP purchased a new position in Intuit in the third quarter valued at about $1,073,000. Finally, Adage Capital Partners GP L.L.C. increased its position in Intuit by 13.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 318,400 shares of the software maker’s stock worth $162,683,000 after purchasing an additional 38,900 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on INTU. Citigroup increased their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday, June 14th. KeyCorp boosted their price target on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Morgan Stanley boosted their target price on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $683.91.

Intuit Price Performance

NASDAQ INTU traded down $10.31 during trading on Monday, reaching $646.90. 462,598 shares of the company traded hands, compared to its average volume of 1,343,995. Intuit Inc. has a 1-year low of $444.19 and a 1-year high of $676.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The stock’s 50 day moving average price is $618.61 and its two-hundred day moving average price is $628.28. The company has a market cap of $180.84 billion, a price-to-earnings ratio of 60.63, a P/E/G ratio of 3.76 and a beta of 1.23.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $7.80 earnings per share. As a group, analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be given a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.56%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insiders Place Their Bets

In other news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is currently owned by insiders.

About Intuit

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.