Marietta Wealth Management LLC Sells 304 Shares of Intuit Inc. (NASDAQ:INTU)

Marietta Wealth Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,242 shares of the software maker’s stock after selling 304 shares during the quarter. Intuit accounts for about 1.4% of Marietta Wealth Management LLC’s portfolio, making the stock its 23rd largest position. Marietta Wealth Management LLC’s holdings in Intuit were worth $7,652,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of INTU. NewSquare Capital LLC acquired a new position in Intuit in the 3rd quarter valued at approximately $25,000. Cape Investment Advisory Inc. acquired a new stake in Intuit in the third quarter valued at $26,000. Steward Financial Group LLC raised its position in Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the last quarter. Aspire Private Capital LLC lifted its holdings in Intuit by 144.4% during the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after buying an additional 39 shares during the period. Finally, Webster Bank N. A. bought a new stake in shares of Intuit in the 4th quarter valued at about $41,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INTU. Stifel Nicolaus raised their price objective on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company raised their price target on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Mizuho upped their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Barclays lifted their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Susquehanna upped their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Stock Up 0.6 %

Shares of INTU traded up $3.74 on Tuesday, reaching $615.86. The company’s stock had a trading volume of 393,018 shares, compared to its average volume of 1,239,771. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The stock has a market capitalization of $172.44 billion, a PE ratio of 62.54, a PEG ratio of 3.78 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average of $645.96 and a 200-day moving average of $597.57.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share. Equities analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.58%. Intuit’s dividend payout ratio is currently 36.73%.

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.