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

Oppenheimer & Co. Inc. reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,835 shares of the software maker’s stock after selling 177 shares during the period. Oppenheimer & Co. Inc.’s holdings in Intuit were worth $6,729,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC raised its position in shares of Intuit by 134.7% during the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after purchasing an additional 2,641 shares during the period. Harvest Portfolios Group Inc. boosted its holdings in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the period. GAMMA Investing LLC increased its position in shares of Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in shares of Intuit by 13.4% during the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock valued at $7,398,000 after acquiring an additional 1,328 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Up 1.0 %

INTU stock opened at $706.25 on Thursday. The firm has a market cap of $197.95 billion, a PE ratio of 67.58, a PEG ratio of 3.42 and a beta of 1.25. Intuit Inc. has a 1 year low of $541.40 and a 1 year high of $714.78. The company has a fifty day simple moving average of $628.37 and a 200 day simple moving average of $628.67. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

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

Intuit Increases Dividend

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

Insider Activity

In related news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on INTU shares. Morgan Stanley lowered shares of 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 research note on Wednesday, August 14th. Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

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.