Intuit Inc. (NASDAQ:INTU) Position Trimmed by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 10.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,100 shares of the software maker’s stock after selling 131 shares during the period. Oliver Luxxe Assets LLC’s holdings in Intuit were worth $683,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of INTU. Virtu Financial LLC bought a new position in shares of Intuit during the fourth quarter valued at approximately $227,000. Integrated Advisors Network LLC lifted its stake in Intuit by 6.5% in the fourth quarter. Integrated Advisors Network LLC now owns 1,182 shares of the software maker’s stock valued at $739,000 after buying an additional 72 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of Intuit during the fourth quarter valued at $179,000. SageView Advisory Group LLC grew its position in shares of Intuit by 143.1% during the fourth quarter. SageView Advisory Group LLC now owns 1,184 shares of the software maker’s stock worth $767,000 after acquiring an additional 697 shares during the last quarter. Finally, Leo Wealth LLC acquired a new stake in shares of Intuit in the 4th quarter worth about $201,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on INTU shares. JPMorgan Chase & Co. upped their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group lifted their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays reduced their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $735.71.

Intuit Trading Up 0.1 %

Shares of NASDAQ INTU opened at $617.16 on Tuesday. The business has a fifty day simple moving average of $630.96 and a 200-day simple moving average of $628.20. The company has a market cap of $172.53 billion, a price-to-earnings ratio of 56.93, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

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

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 38.38%.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The trade was 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 over the last quarter. Company insiders own 2.90% of the company’s stock.

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.