Hennion & Walsh Asset Management Inc. Sells 426 Shares of Intuit Inc. (NASDAQ:INTU)

Hennion & Walsh Asset Management Inc. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,352 shares of the software maker’s stock after selling 426 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Intuit were worth $4,129,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Intuit in the fourth quarter worth $2,101,848,000. Wellington Management Group LLP raised its stake in Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares during the period. Lone Pine Capital LLC acquired a new stake in Intuit during the 4th quarter worth $467,852,000. Parnassus Investments LLC lifted its holdings in Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INTU. Stifel Nicolaus dropped their price target on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Morgan Stanley raised their price objective on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Susquehanna reduced their target price on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $683.91.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the sale, the chief financial officer now owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,937 shares of company stock worth $113,123,232. Company insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.9 %

Shares of Intuit stock opened at $657.21 on Friday. The stock has a market cap of $183.72 billion, a P/E ratio of 60.63, a P/E/G ratio of 3.76 and a beta of 1.21. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a 12-month low of $444.19 and a 12-month high of $676.62. The business’s 50 day moving average is $618.61 and its 200-day moving average is $628.16.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $7.80 earnings per share. Equities research analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.55%. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

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.