328 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Diversified Portfolios Inc.

Diversified Portfolios Inc. acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, HoldingsChannel reports. The firm acquired 328 shares of the software maker’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after buying an additional 117,478 shares during the last quarter. State Street Corp increased its stake in Intuit by 1.9% in the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock valued at $4,948,558,000 after buying an additional 210,246 shares during the last quarter. FMR LLC increased its stake in Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares during the last quarter. Morgan Stanley increased its stake in Intuit by 3.7% in the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after buying an additional 137,198 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Intuit by 5.2% in the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after buying an additional 160,229 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on INTU shares. Stifel Nicolaus lifted their price target on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Susquehanna lifted their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Mizuho lifted their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Stock Performance

Shares of INTU stock opened at $611.49 on Wednesday. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a 50-day simple moving average of $645.48 and a 200 day simple moving average of $598.28. The company has a market capitalization of $171.22 billion, a price-to-earnings ratio of 62.40, a PEG ratio of 3.73 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts predict that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

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.