Oppenheimer & Co. Inc. Buys 3,986 Shares of Intuit Inc. (NASDAQ:INTU)

Oppenheimer & Co. Inc. increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 36.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,889 shares of the software maker's stock after buying an additional 3,986 shares during the period. Oppenheimer & Co. Inc.'s holdings in Intuit were worth $9,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. NewSquare Capital LLC increased its holdings 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 buying an additional 18 shares during the last quarter. Ethos Financial Group LLC increased its holdings in shares of Intuit by 3.7% in the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock valued at $319,000 after purchasing an additional 18 shares during the last quarter. Legacy Investment Solutions LLC increased its holdings in shares of Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock valued at $68,000 after purchasing an additional 18 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after purchasing an additional 18 shares during the last quarter. Finally, Chris Bulman Inc increased its holdings in shares of Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after purchasing an additional 18 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU traded down $3.52 during mid-day trading on Tuesday, reaching $759.03. The company had a trading volume of 1,900,345 shares, compared to its average volume of 1,609,700. The company's 50 day simple moving average is $689.57 and its 200 day simple moving average is $636.00. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45. 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 company has a market capitalization of $211.73 billion, a price-to-earnings ratio of 61.61, a P/E/G ratio of 3.39 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the company posted $9.88 EPS. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the transaction, the chief financial officer now owns 197 shares in the company, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the transaction, the insider now owns 6,000,679 shares of the company's stock, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 271,158 shares of company stock worth $202,989,194 in the last quarter. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on INTU. KeyCorp reiterated an "overweight" rating and issued a $850.00 price objective (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group upped their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Piper Sandler reiterated an "overweight" rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research report on Wednesday, April 23rd. Finally, Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have issued 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, Intuit presently has an average rating of "Moderate Buy" and a consensus target price of $787.95.

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.