Intuit Inc. (NASDAQ:INTU) Shares Purchased by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,447 shares of the software maker's stock after purchasing an additional 582 shares during the quarter. Intuit makes up approximately 2.4% of Abner Herrman & Brock LLC's holdings, making the stock its 19th biggest position. Abner Herrman & Brock LLC's holdings in Intuit were worth $18,694,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Intuit during the fourth quarter worth $25,000. Copia Wealth Management bought a new stake in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Down 0.0%

NASDAQ:INTU traded down $0.33 during mid-day trading on Tuesday, hitting $764.66. 1,526,670 shares of the company's stock traded hands, compared to its average volume of 1,620,015. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $213.30 billion, a P/E ratio of 74.24, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a fifty day moving average of $633.69 and a 200 day moving average of $622.92. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $771.38.

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

Intuit Dividend Announcement

The company 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 $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Wells Fargo & Company reissued an "overweight" rating and issued a $825.00 target price (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Citigroup reissued a "buy" rating and issued a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus boosted their price objective on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $785.33.

Insider Buying and Selling

In related news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the transaction, the executive vice president now directly owns 22,796 shares of the company's stock, valued at $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,804 shares of company stock worth $138,081,963 in the last 90 days. Insiders own 2.68% of the company's stock.

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.