Diversified Trust Co Increases Position in Intuit Inc. (NASDAQ:INTU)

Diversified Trust Co lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 28.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,912 shares of the software maker’s stock after acquiring an additional 1,549 shares during the quarter. Diversified Trust Co’s holdings in Intuit were worth $4,344,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp increased its position in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Geode Capital Management LLC increased its holdings in Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after buying an additional 107,482 shares during the last quarter. Legal & General Group Plc raised its position in Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 289,848 shares of company stock worth $187,041,365. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Down 0.9 %

Intuit stock traded down $5.73 during mid-day trading on Tuesday, reaching $619.43. 271,174 shares of the company traded hands, compared to its average volume of 920,602. The firm’s 50 day moving average price is $649.30 and its 200 day moving average price is $638.45. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $173.39 billion, a price-to-earnings ratio of 60.14, a P/E/G ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Company 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.