Oliver Luxxe Assets LLC Has $846,000 Stake in Intuit Inc. (NASDAQ:INTU)

Oliver Luxxe Assets LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 11.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,302 shares of the software maker’s stock after selling 173 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Intuit were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Desjardins Global Asset Management Inc. raised its stake in shares of Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after acquiring an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Intuit by 3.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after acquiring an additional 16 shares in the last quarter. GAM Holding AG raised its stake in shares of Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in shares of Intuit by 2.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after acquiring an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU stock opened at $650.77 on Tuesday. The stock’s fifty day simple moving average is $618.61 and its 200 day simple moving average is $628.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $181.92 billion, a price-to-earnings ratio of 60.03, a P/E/G ratio of 3.76 and a beta of 1.23. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INTU shares. Piper Sandler raised their price objective on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Morgan Stanley lifted their price target on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Bank of America dropped their price target on Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. UBS Group lifted their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $770.00 price target on shares of Intuit in a research report on Thursday, June 13th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $683.91.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is currently owned by corporate insiders.

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.