Hennion & Walsh Asset Management Inc. Has $5.78 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Hennion & Walsh Asset Management Inc. increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,418 shares of the software maker's stock after acquiring an additional 957 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Intuit were worth $5,783,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in INTU. Brighton Jones LLC grew its holdings in shares of Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after acquiring an additional 1,350 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Intuit during the 4th quarter worth about $104,278,000. Revolve Wealth Partners LLC lifted its stake in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after buying an additional 482 shares in the last quarter. R Squared Ltd acquired a new position in shares of Intuit in the fourth quarter worth about $25,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at approximately $13,775. This represents a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,592 shares of company stock worth $165,325,437. Company insiders own 2.68% of the company's stock.

Intuit Stock Performance

NASDAQ:INTU traded down $0.17 during midday trading on Thursday, reaching $766.64. The stock had a trading volume of 1,240,800 shares, compared to its average volume of 1,619,156. The stock has a market capitalization of $213.85 billion, a P/E ratio of 74.43, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm's fifty day simple moving average is $640.03 and its 200-day simple moving average is $624.89.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company posted $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Evercore ISI lifted their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. UBS Group set a $750.00 price target on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Finally, Mizuho lifted their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $785.33.

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.