Diversified Portfolios Inc. Makes New $205,000 Investment in Intuit Inc. (NASDAQ:INTU)

Diversified Portfolios Inc. acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 328 shares of the software maker’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Norges Bank purchased a new position in Intuit during the 4th quarter worth approximately $1,173,468,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Intuit by 118,345.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after buying an additional 2,086,431 shares during the period. Morgan Stanley boosted its stake in shares of Intuit by 42.5% during the 4th quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock valued at $1,340,830,000 after buying an additional 1,027,752 shares during the period. Parnassus Investments LLC boosted its stake in shares of Intuit by 42,268.5% during the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after buying an additional 514,259 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Stifel Nicolaus lifted their target price 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 reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Finally, 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 note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Transactions at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Down 0.1 %

Intuit stock opened at $611.49 on Wednesday. The firm has a market cap of $171.22 billion, a price-to-earnings ratio of 62.40, a P/E/G ratio of 3.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The firm has a fifty day moving average price of $645.48 and a two-hundred day moving average price of $598.28.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) 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 company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

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

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.