Intuit Inc. (NASDAQ:INTU) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 14.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,659 shares of the software maker’s stock after selling 608 shares during the period. Diversify Advisory Services LLC’s holdings in Intuit were worth $2,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. LGT Financial Advisors LLC acquired a new position in Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit in the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the second quarter valued at $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays dropped their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Finally, BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Trading Up 1.9 %

Shares of INTU stock opened at $623.70 on Wednesday. The company has a market capitalization of $174.35 billion, a P/E ratio of 57.54, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $624.96 and its two-hundred day moving average is $626.52. Intuit Inc. has a twelve month low of $481.79 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. Equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were 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 was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

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.