Marietta Wealth Management LLC Buys 362 Shares of Intuit Inc. (NASDAQ:INTU)

Marietta Wealth Management LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,694 shares of the software maker’s stock after purchasing an additional 362 shares during the period. Marietta Wealth Management LLC’s holdings in Intuit were worth $7,262,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the second quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in Intuit during the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Intuit in the second quarter valued at about $35,000. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Down 0.7 %

INTU stock opened at $609.59 on Wednesday. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company’s 50-day simple moving average is $629.40 and its 200 day simple moving average is $627.34. The company has a market capitalization of $170.41 billion, a PE ratio of 56.24, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

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

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada started coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Bank of America raised their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Finally, Barclays decreased their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

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.