E. Ohman J or Asset Management AB Lowers Position in Intuit Inc. (NASDAQ:INTU)

E. Ohman J or Asset Management AB lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,317 shares of the software maker's stock after selling 937 shares during the period. Intuit makes up approximately 1.2% of E. Ohman J or Asset Management AB's portfolio, making the stock its 17th biggest holding. E. Ohman J or Asset Management AB's holdings in Intuit were worth $45,016,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Copia Wealth Management purchased a new position in shares of Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the period. Summit Securities Group LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

INTU traded up $4.94 during trading on Friday, reaching $771.58. The stock had a trading volume of 1,475,201 shares, compared to its average volume of 1,619,358. The stock has a market cap of $215.23 billion, a PE ratio of 74.91, a PEG ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $532.65 and a one year high of $774.80. The business has a 50-day moving average of $643.09 and a 200-day moving average of $625.50.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.88 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INTU shares. The Goldman Sachs Group lifted their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $825.00 price target (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $850.00 price target (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Citigroup restated a "buy" rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $785.33.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the 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 sale, the insider now owns 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 225,592 shares of company stock worth $165,325,437 over the last three months. Company insiders own 2.68% of the company's stock.

About Intuit

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.