BlackDiamond Wealth Management LLC Grows Stake in Intuit Inc. (NASDAQ:INTU)

BlackDiamond Wealth Management LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of INTU. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC boosted its position in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,301 shares of company stock valued at $121,470,200. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $602.11 on Tuesday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm’s 50 day moving average price is $597.76 and its 200 day moving average price is $623.51. The company has a market cap of $168.33 billion, a P/E ratio of 58.46, a PEG ratio of 2.85 and a beta of 1.27. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday, February 26th. Citigroup decreased their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.