Great Diamond Partners LLC Acquires 17 Shares of Intuit Inc. (NASDAQ:INTU)

Great Diamond Partners LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627 shares of the software maker’s stock after buying an additional 17 shares during the quarter. Great Diamond Partners LLC’s holdings in Intuit were worth $394,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caprock Group LLC raised its holdings in Intuit by 22.2% during the fourth quarter. Caprock Group LLC now owns 8,634 shares of the software maker’s stock worth $5,427,000 after acquiring an additional 1,568 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in shares of Intuit during the 4th quarter worth approximately $128,000. Institute for Wealth Management LLC. boosted its holdings in shares of Intuit by 10.2% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,492 shares of the software maker’s stock valued at $938,000 after buying an additional 138 shares during the last quarter. Oak Harvest Investment Services acquired a new stake in shares of Intuit in the 4th quarter valued at approximately $3,268,000. Finally, Cibc World Market Inc. grew its stake in shares of Intuit by 284.5% in the fourth quarter. Cibc World Market Inc. now owns 58,084 shares of the software maker’s stock valued at $36,506,000 after buying an additional 42,976 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on INTU shares. Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Stifel Nicolaus cut their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

Shares of Intuit stock opened at $601.51 on Friday. The company has a 50-day simple moving average of $631.72 and a two-hundred day simple moving average of $634.06. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock has a market capitalization of $168.37 billion, a price-to-earnings ratio of 58.40, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings results 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. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. Analysts forecast that Intuit Inc. will post 14.09 EPS for the current 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 issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’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 transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

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.