Marietta Wealth Management LLC Purchases 263 Shares of Intuit Inc. (NASDAQ:INTU)

Marietta Wealth Management LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,957 shares of the software maker’s stock after buying an additional 263 shares during the period. Marietta Wealth Management LLC’s holdings in Intuit were worth $7,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP raised its holdings in Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB lifted its position in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the last quarter. State Street Corp boosted its holdings in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Intuit in the fourth quarter valued at approximately $104,278,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Finally, Morgan Stanley raised their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Shares of Intuit stock opened at $601.51 on Friday. The company’s 50 day moving average price is $630.95 and its two-hundred day moving average price is $633.66. The firm has a market capitalization of $168.37 billion, a P/E ratio of 58.40, a P/E/G ratio of 2.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. On average, equities 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 was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

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.