Diversified Enterprises LLC Acquires Shares of 319 Intuit Inc. (NASDAQ:INTU)

Diversified Enterprises LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 319 shares of the software maker’s stock, valued at approximately $200,000.

Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Intuit during the fourth quarter valued at $300,854,000. Holocene Advisors LP boosted its stake in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares during the period. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Finally, Sustainable Growth Advisers LP boosted its stake in shares of Intuit by 20.7% during the fourth quarter. Sustainable Growth Advisers LP now owns 1,429,346 shares of the software maker’s stock valued at $898,344,000 after purchasing an additional 245,372 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

INTU opened at $598.80 on Friday. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $167.40 billion, a P/E ratio of 58.14, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The firm’s 50-day moving average price is $598.23 and its 200-day moving average price is $623.61.

Intuit Dividend Announcement

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

Insider Activity

In related news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,301 shares of company stock worth $121,470,200 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. BNP Paribas lowered shares of 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. Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $721.61.

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.