Oliver Lagore Vanvalin Investment Group Acquires 716 Shares of Intuit Inc. (NASDAQ:INTU)

Oliver Lagore Vanvalin Investment Group boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 29.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,119 shares of the software maker’s stock after acquiring an additional 716 shares during the quarter. Oliver Lagore Vanvalin Investment Group’s holdings in Intuit were worth $2,050,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Intuit during the 2nd quarter worth approximately $39,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INTU. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Stifel Nicolaus raised their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Bank of America raised their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Royal Bank of Canada initiated coverage on shares of Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $720.37.

Intuit Stock Performance

Intuit stock opened at $619.03 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $173.05 billion, a PE ratio of 57.11, a P/E/G ratio of 3.13 and a beta of 1.24. The firm has a fifty day simple moving average of $635.44 and a two-hundred day simple moving average of $631.03. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. 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%. Intuit’s payout ratio is presently 38.38%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the sale, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,548 shares of company stock worth $33,604,124. 2.90% of the stock is currently owned by company insiders.

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.