Marks Group Wealth Management Inc Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Marks Group Wealth Management Inc bought a new position in Intuit Inc. (NASDAQ:INTU) in the first quarter, Holdings Channel reports. The firm bought 14,039 shares of the software maker’s stock, valued at approximately $8,620,000.

A number of other large investors have also bought and sold shares of the company. Copia Wealth Management purchased a new position in shares of Intuit in the fourth quarter valued at $25,000. Summit Securities Group LLC purchased a new position in shares of Intuit in the fourth quarter valued at $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter valued at $28,000. VSM Wealth Advisory LLC purchased a new position in shares of Intuit in the fourth quarter valued at $35,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Intuit in the first quarter valued at $37,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INTU shares. Citigroup reiterated a “buy” rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Barclays restated an “overweight” rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Oppenheimer restated an “outperform” rating and set a $742.00 target price (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Finally, KeyCorp restated an “overweight” rating and set a $850.00 target price (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $800.55.

Intuit Stock Performance

NASDAQ INTU opened at $747.90 on Friday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $733.03 and a 200-day moving average of $646.71. The firm has a market cap of $208.63 billion, a PE ratio of 60.71, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the company posted $9.88 EPS. Intuit’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid 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 is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Insider Buying and Selling

In other Intuit news, Director Richard L. Dalzell sold 333 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director owned 15,474 shares of the company’s stock, valued at $11,890,685.82. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 in the last 90 days. 2.68% of the stock is currently owned by company insiders.

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.