Sendero Wealth Management LLC Buys 5,253 Shares of Intuit Inc. (NASDAQ:INTU)

Sendero Wealth Management LLC increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 67.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,988 shares of the software maker's stock after purchasing an additional 5,253 shares during the quarter. Intuit makes up 1.1% of Sendero Wealth Management LLC's investment portfolio, making the stock its 22nd largest holding. Sendero Wealth Management LLC's holdings in Intuit were worth $7,975,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after buying an additional 353,185 shares during the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 132,384 shares during the period. Wellington Management Group LLP grew its stake in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after acquiring an additional 620,559 shares during the last quarter. Norges Bank bought a new position in Intuit during the fourth quarter worth $2,290,419,000. Finally, Northern Trust Corp increased its position in Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after acquiring an additional 498,030 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group set a $750.00 price target on shares of Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research report on Wednesday, April 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Evercore ISI raised their price objective on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Finally, Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $785.33.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction that occurred on 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 completion of the sale, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction that occurred on 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 sold a total of 225,592 shares of company stock worth $165,325,437 over the last 90 days. 2.68% of the stock is owned by insiders.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $0.17 during midday trading on Thursday, reaching $766.64. The company's stock had a trading volume of 1,240,800 shares, compared to its average volume of 1,619,157. The business's fifty day simple moving average is $640.03 and its 200-day simple moving average is $624.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.47. The company has a market capitalization of $213.85 billion, a P/E ratio of 74.43, a P/E/G ratio of 2.85 and a beta of 1.24.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders 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 dividend yield of 0.54%. Intuit's payout ratio is currently 33.77%.

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.