Arvest Trust Co. N A Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Arvest Trust Co. N A acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 321 shares of the software maker’s stock, valued at approximately $201,000.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Intuit in the 3rd quarter valued at about $51,000. V Square Quantitative Management LLC boosted its holdings in shares of Intuit by 18.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after buying an additional 482 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Intuit by 2,017.2% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 46,007 shares of the software maker’s stock valued at $22,282,000 after buying an additional 43,834 shares during the period. Rehmann Capital Advisory Group acquired a new position in shares of Intuit in the 2nd quarter valued at about $285,000. Finally, Compagnie Lombard Odier SCmA boosted its holdings in shares of Intuit by 27.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock valued at $4,496,000 after buying an additional 1,900 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $635.74 on Friday. The company’s 50 day moving average price is $647.28 and its 200 day moving average price is $591.49. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a market capitalization of $178.01 billion, a PE ratio of 64.87, a PEG ratio of 3.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio is 36.73%.

Insiders Place Their Bets

In other Intuit 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 value of $178,186.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Laura A. Fennell sold 14,772 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $598.52, for a total value of $8,841,337.44. Following the completion of the sale, the executive vice president now directly owns 50,030 shares in the company, valued at $29,943,955.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders sold 19,489 shares of company stock valued at $11,958,493 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer lifted their price objective on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus boosted their price target on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $645.00.

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.