Oppenheimer Asset Management Inc. Acquires 1,098 Shares of Intuit Inc. (NASDAQ:INTU)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 53,420 shares of the software maker’s stock after buying an additional 1,098 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Intuit were worth $33,574,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in INTU. Integrated Advisors Network LLC boosted its stake in Intuit by 9.6% during the third quarter. Integrated Advisors Network LLC now owns 1,416 shares of the software maker’s stock valued at $879,000 after buying an additional 124 shares during the period. Strategic Blueprint LLC boosted its stake in Intuit by 1.9% during the third quarter. Strategic Blueprint LLC now owns 1,167 shares of the software maker’s stock valued at $725,000 after buying an additional 22 shares during the period. Fidelis Capital Partners LLC boosted its stake in Intuit by 9.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,494 shares of the software maker’s stock valued at $899,000 after buying an additional 126 shares during the period. Childress Capital Advisors LLC lifted its stake in Intuit by 3.2% during the third quarter. Childress Capital Advisors LLC now owns 1,137 shares of the software maker’s stock worth $706,000 after purchasing an additional 35 shares during the last quarter. Finally, Mutual Advisors LLC lifted its stake in Intuit by 21.5% during the third quarter. Mutual Advisors LLC now owns 2,690 shares of the software maker’s stock worth $1,625,000 after purchasing an additional 476 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 12.6 %

Shares of NASDAQ:INTU opened at $625.51 on Thursday. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a market cap of $175.09 billion, a PE ratio of 60.73, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50-day moving average is $607.22 and its 200 day moving average is $627.53.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. This represents a 99.48 % decrease in their position. The transaction 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 the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 in the last 90 days. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Finally, Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $723.76.

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.