Aries Wealth Management Purchases New Position in Intuit Inc. (NASDAQ:INTU)

Aries Wealth Management purchased a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 388 shares of the software maker's stock, valued at approximately $238,000.

Several other institutional investors have also added to or reduced their stakes in INTU. Copia Wealth Management bought a new stake in Intuit in the 4th quarter worth $25,000. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in Intuit during the 4th quarter valued at about $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $14.10 during midday trading on Monday, hitting $768.08. 1,428,231 shares of the stock traded hands, compared to its average volume of 1,837,341. The firm has a market capitalization of $214.25 billion, a P/E ratio of 74.57, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50-day moving average of $664.85 and a two-hundred day moving average of $630.21.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $9.88 earnings per share. On average, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit's dividend payout ratio (DPR) is 33.77%.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 1,459 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,408 shares of company stock valued at $213,441,865. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. UBS Group set a $750.00 price objective on Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. Bank of America raised their price target on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. BMO Capital Markets reissued an "outperform" rating and set a $820.00 price objective (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $787.95.

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.