Intuit Inc. (NASDAQ:INTU) Holdings Cut by Marietta Wealth Management LLC

Marietta Wealth Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,242 shares of the software maker’s stock after selling 304 shares during the quarter. Intuit makes up 1.4% of Marietta Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. Marietta Wealth Management LLC’s holdings in Intuit were worth $7,652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Intuit by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after buying an additional 117,478 shares during the last quarter. State Street Corp raised its stake in Intuit by 1.9% during the 1st quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock valued at $4,948,558,000 after acquiring an additional 210,246 shares in the last quarter. FMR LLC raised its stake in Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares in the last quarter. Morgan Stanley boosted its position in Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Intuit by 5.2% in the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after purchasing an additional 160,229 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 0.6 %

Shares of INTU traded up $3.74 during mid-day trading 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 1 year low of $400.22 and a 1 year high of $671.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market cap of $172.44 billion, a price-to-earnings ratio of 62.54, a price-to-earnings-growth ratio of 3.78 and a beta of 1.21. The business has a fifty day moving average of $645.96 and a 200 day moving average of $597.57.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (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 business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. As a group, analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on INTU shares. Barclays upped their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Evercore ISI upped their price target on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. KeyCorp raised their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Piper Sandler upped their target price on Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Susquehanna lifted their price target on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 in the last quarter. Company insiders own 2.90% of the company’s stock.

Intuit Company 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.