Intuit Inc. (NASDAQ:INTU) Shares Acquired by BlackDiamond Wealth Management LLC

BlackDiamond Wealth Management LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 15.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 424 shares of the software maker’s stock after purchasing an additional 58 shares during the period. BlackDiamond Wealth Management LLC’s holdings in Intuit were worth $266,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. State Street Corp boosted its holdings in shares of Intuit by 1.8% in 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 buying an additional 221,885 shares in the last quarter. Geode Capital Management LLC grew its position in Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC increased its stake in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares during the period. Bank of New York Mellon Corp increased its stake in Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after purchasing an additional 88,487 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 purchasing an additional 87,517 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $602.11 on Tuesday. The business’s fifty day moving average price is $597.76 and its two-hundred day moving average price is $623.51. The stock has a market cap of $168.33 billion, a PE ratio of 58.46, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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 $553.24 and a one year high of $714.78.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INTU shares. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Transactions at Intuit

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,301 shares of company stock worth $121,470,200 over the last quarter. 2.68% of the stock is currently owned by insiders.

Intuit 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.