14,039 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 14,039 shares of the software maker's stock, valued at approximately $8,620,000.

A number of other hedge funds also recently made changes to their positions in INTU. CWM LLC boosted its holdings in shares of Intuit by 10.1% in the 1st quarter. CWM LLC now owns 19,094 shares of the software maker's stock worth $11,723,000 after buying an additional 1,756 shares during the last quarter. Hughes Financial Services LLC bought a new position in Intuit during the first quarter valued at approximately $50,000. BankPlus Trust Department grew its holdings in shares of Intuit by 2,329.9% in the first quarter. BankPlus Trust Department now owns 2,357 shares of the software maker's stock worth $1,447,000 after purchasing an additional 2,260 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Intuit by 1.0% in the first quarter. Arizona State Retirement System now owns 82,056 shares of the software maker's stock worth $50,382,000 after purchasing an additional 833 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its stake in Intuit by 12.3% in the first quarter. Kathmere Capital Management LLC now owns 492 shares of the software maker's stock worth $302,000 after acquiring an additional 54 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INTU. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI boosted their target price on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Finally, Susquehanna restated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $800.55.

Insider Transactions at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the sale, the director directly owned 15,474 shares of the company's stock, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 2,591 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the completion of the sale, the chief financial officer directly owned 768 shares in the company, valued at approximately $600,744.96. This trade represents a 77.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 in the last quarter. Insiders own 2.68% of the company's stock.

Intuit Stock Down 0.8%

NASDAQ:INTU traded down $6.07 during midday trading on Tuesday, reaching $746.68. 523,381 shares of the stock traded hands, compared to its average volume of 1,617,420. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The business has a 50-day moving average of $735.45 and a two-hundred day moving average of $647.51. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The stock has a market capitalization of $208.28 billion, a PE ratio of 60.66, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results 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. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the firm earned $9.88 EPS. The business's revenue was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.

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.