Aries Wealth Management Makes New $238,000 Investment in Intuit Inc. (NASDAQ:INTU)

Aries Wealth Management purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 388 shares of the software maker’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. NewSquare Capital LLC boosted its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares in the last quarter. Ethos Financial Group LLC lifted its stake in shares of Intuit by 3.7% in the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock valued at $319,000 after acquiring an additional 18 shares during the last quarter. Legacy Investment Solutions LLC boosted its holdings in shares of Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock valued at $68,000 after acquiring an additional 18 shares in the last quarter. Financial Management Professionals Inc. grew its position in Intuit by 18.4% during the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker’s stock worth $71,000 after acquiring an additional 18 shares during the last quarter. Finally, Chris Bulman Inc increased its holdings in Intuit by 1.2% in the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker’s stock worth $935,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 62,816 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the transaction, the insider now directly owns 6,000,679 shares in the company, valued at $4,596,460,107.21. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on INTU. Oppenheimer reissued an “outperform” rating and set a $742.00 price target (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Redburn Atlantic began coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $820.00 price target (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $787.95.

Intuit Stock Performance

NASDAQ INTU opened at $753.98 on Monday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The company has a fifty day moving average of $664.85 and a 200-day moving average of $630.21. The company has a market capitalization of $210.32 billion, a P/E ratio of 73.20, a P/E/G ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $9.88 EPS. As a group, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is currently 33.77%.

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.