LVW Advisors LLC Takes $213,000 Position in Intuit Inc. (NASDAQ:INTU)

LVW Advisors LLC bought a new position in Intuit Inc. (NASDAQ:INTU) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 327 shares of the software maker’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parnassus Investments LLC lifted its holdings in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares during the last quarter. Maryland State Retirement & Pension System increased its position in Intuit by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after buying an additional 226 shares during the period. Public Employees Retirement System of Ohio increased its position in Intuit by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after buying an additional 1,990 shares during the period. Glenmede Trust Co. NA increased its position in Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after buying an additional 2,074 shares during the period. Finally, Hixon Zuercher LLC bought a new position in Intuit in the 4th quarter worth approximately $1,292,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INTU has been the topic of several recent analyst reports. Citigroup lifted their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus lowered their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Morgan Stanley boosted their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. UBS Group boosted their price objective on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Finally, KeyCorp boosted their price objective on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $683.91.

Intuit Stock Up 0.9 %

Shares of INTU stock opened at $657.21 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The firm’s 50-day moving average is $618.61 and its 200-day moving average is $628.28. The stock has a market cap of $183.72 billion, a price-to-earnings ratio of 60.63, a PEG ratio of 3.76 and a beta of 1.23. Intuit Inc. has a 52-week low of $444.19 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.80 EPS. Sell-side analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

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

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.