Hohimer Wealth Management LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Hohimer Wealth Management LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,816 shares of the software maker’s stock after purchasing an additional 17 shares during the period. Hohimer Wealth Management LLC’s holdings in Intuit were worth $1,135,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of INTU. Norges Bank acquired a new position in Intuit during the 4th quarter valued at approximately $2,101,848,000. Parnassus Investments LLC increased its stake in shares of Intuit by 42,268.5% in the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after acquiring an additional 609,512 shares during the period. Wellington Management Group LLP increased its stake in shares of Intuit by 61.5% in the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after acquiring an additional 514,259 shares during the period. International Assets Investment Management LLC increased its stake in shares of 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 worth $295,609,000 after acquiring an additional 472,172 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock worth $1,946,943,000 after acquiring an additional 270,414 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INTU. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Barclays increased their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Piper Sandler increased their price target on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. KeyCorp increased their price target on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Oppenheimer increased their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $666.59.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by insiders.

Intuit Trading Down 1.4 %

Intuit stock traded down $9.46 during midday trading on Thursday, hitting $660.81. 939,060 shares of the stock were exchanged, compared to its average volume of 1,199,968. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $676.62. The stock has a market capitalization of $185.03 billion, a price-to-earnings ratio of 68.39, a PEG ratio of 4.07 and a beta of 1.22. The stock’s 50-day simple moving average is $634.72 and its 200 day simple moving average is $619.64. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, equities analysts anticipate that Intuit Inc. will post 11.28 EPS for the current year.

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.