Marietta Wealth Management LLC Buys 602 Shares of Intuit Inc. (NASDAQ:INTU)

Marietta Wealth Management LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,559 shares of the software maker's stock after acquiring an additional 602 shares during the quarter. Marietta Wealth Management LLC's holdings in Intuit were worth $7,711,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Elser Financial Planning Inc bought a new position in shares of Intuit during the first quarter valued at $264,000. Rockline Wealth Management LLC grew its holdings in shares of Intuit by 12.3% in the 1st quarter. Rockline Wealth Management LLC now owns 1,103 shares of the software maker's stock worth $677,000 after purchasing an additional 121 shares during the last quarter. Congress Park Capital LLC grew its holdings in shares of Intuit by 85.0% in the 1st quarter. Congress Park Capital LLC now owns 1,280 shares of the software maker's stock worth $786,000 after purchasing an additional 588 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of Intuit during the 1st quarter worth about $381,000. Finally, Segment Wealth Management LLC lifted its holdings in Intuit by 2.4% during the 1st quarter. Segment Wealth Management LLC now owns 31,687 shares of the software maker's stock valued at $19,455,000 after purchasing an additional 743 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 62,816 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the transaction, the insider now owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark P. Notarainni sold 469 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now directly owns 19 shares of the company's stock, valued at $13,775. This represents a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,321 shares of company stock worth $207,988,705 in the last 90 days. Corporate insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

INTU has been the topic of several research analyst reports. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. Barclays reissued an "overweight" rating and issued a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $785.00 price target (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, BMO Capital Markets restated an "outperform" rating and issued a $820.00 target price (up from $714.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $787.95.

Intuit Trading Up 0.8%

INTU traded up $6.31 during midday trading on Friday, reaching $761.14. 2,631,919 shares of the company were exchanged, compared to its average volume of 1,610,069. The stock has a market capitalization of $212.32 billion, a P/E ratio of 61.78, a PEG ratio of 3.39 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 stock's 50-day simple moving average is $682.89 and its 200 day simple moving average is $634.43. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.88 earnings per share. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Intuit 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.