Intuit Inc. (NASDAQ:INTU) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,903 shares of the software maker’s stock after purchasing an additional 68 shares during the period. Oppenheimer & Co. Inc.’s holdings in Intuit were worth $6,853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Holocene Advisors LP lifted its position in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares during the period. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares in the last quarter. State Street Corp raised its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Intuit in the fourth quarter valued at $104,278,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Intuit by 85.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 358,834 shares of the software maker’s stock valued at $222,836,000 after buying an additional 165,805 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,014 shares of company stock valued at $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Down 4.0 %

Shares of Intuit stock opened at $600.42 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The stock has a 50-day moving average price of $606.49 and a 200 day moving average price of $627.35. The company has a market cap of $168.07 billion, a P/E ratio of 58.29, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, Citigroup cut their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $717.88.

Intuit Company 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.