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

Oppenheimer & Co. Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 36.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,889 shares of the software maker's stock after purchasing an additional 3,986 shares during the period. Oppenheimer & Co. Inc.'s holdings in Intuit were worth $9,142,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in INTU. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares in the last quarter. Ethos Financial Group LLC grew its position in Intuit by 3.7% in the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after acquiring an additional 18 shares in the last quarter. Legacy Investment Solutions LLC grew its position in Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after acquiring an additional 18 shares in the last quarter. Financial Management Professionals Inc. increased its stake in shares of Intuit by 18.4% during the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares during the last quarter. Finally, Chris Bulman Inc raised its holdings in shares of Intuit by 1.2% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This represents a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Insiders have sold a total of 271,158 shares of company stock worth $202,989,194 in the last three months. Insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of INTU stock traded up $3.71 during mid-day trading on Friday, reaching $776.57. The stock had a trading volume of 2,051,602 shares, compared to its average volume of 1,613,491. Intuit Inc. has a one year low of $532.65 and a one year high of $787.09. The firm has a market cap of $216.62 billion, a PE ratio of 63.03, a P/E/G ratio of 3.37 and a beta of 1.28. The firm's 50 day simple moving average is $696.71 and its 200 day simple moving average is $637.71. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $7.56 billion. During the same period last year, the business earned $9.88 earnings per share. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analyst Ratings Changes

INTU has been the topic of several analyst reports. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. The Goldman Sachs Group increased their price objective on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. KeyCorp reissued an "overweight" rating and issued a $850.00 price objective (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $785.00 price target (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $793.05.

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.