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

Marietta Wealth Management LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,694 shares of the software maker’s stock after purchasing an additional 362 shares during the quarter. Marietta Wealth Management LLC’s holdings in Intuit were worth $7,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Intuit by 940.4% during the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after buying an additional 285,328 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after acquiring an additional 283,291 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Intuit during the 2nd quarter worth $184,982,000. Ameriprise Financial Inc. increased its holdings in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after purchasing an additional 169,190 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Down 0.7 %

NASDAQ INTU opened at $609.59 on Wednesday. The stock has a market capitalization of $170.41 billion, a P/E ratio of 56.24, a P/E/G ratio of 3.04 and a beta of 1.24. The business has a 50 day simple moving average of $629.40 and a 200 day simple moving average of $627.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. Research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

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

Insider Activity

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on INTU shares. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Royal Bank of Canada assumed coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Finally, Barclays reduced their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price 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.