Hohimer Wealth Management LLC Purchases Shares of 7,096 Intuit Inc. (NASDAQ:INTU)

Hohimer Wealth Management LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,096 shares of the software maker's stock, valued at approximately $4,357,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Norges Bank acquired a new stake in Intuit during the 4th quarter worth approximately $2,290,419,000. Finally, Brown Advisory Inc. raised its holdings in Intuit by 7.9% in the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after acquiring an additional 252,265 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the transaction, the insider directly owned 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the transaction, the executive vice president owned 22,796 shares of the company's stock, valued at approximately $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 over the last 90 days. Insiders own 2.68% of the company's stock.

Intuit Stock Performance

NASDAQ INTU traded up $4.98 on Thursday, hitting $755.70. 387,872 shares of the stock traded hands, compared to its average volume of 1,619,503. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60. The business's fifty day moving average is $740.03 and its two-hundred day moving average is $648.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $210.80 billion, a price-to-earnings ratio of 61.37, a PEG ratio of 3.31 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results 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 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company earned $9.88 earnings per share. The business's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

Analysts Set New Price Targets

Several equities analysts have weighed in on INTU shares. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Finally, UBS Group set a $750.00 target price on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intuit has a consensus rating of "Moderate Buy" and an average price target of $800.55.

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.