Oppenheimer Asset Management Inc. Has $32.49 Million Stake in Intuit Inc. (NASDAQ:INTU)

Oppenheimer Asset Management Inc. increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,322 shares of the software maker’s stock after buying an additional 243 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Intuit were worth $32,492,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in Intuit during the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the second quarter worth $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on INTU shares. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Stifel Nicolaus increased their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Barclays cut their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Price Performance

Shares of NASDAQ INTU traded up $8.93 during mid-day trading on Wednesday, hitting $708.40. 157,542 shares of the stock traded hands, compared to its average volume of 1,325,463. The company has a market cap of $198.56 billion, a PE ratio of 66.93, a price-to-earnings-growth ratio of 3.41 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $628.37 and a two-hundred day simple moving average of $628.67. Intuit Inc. has a twelve month low of $541.40 and a twelve month high of $708.81.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, equities research analysts forecast that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.59%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 39.81%.

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.