Everhart Financial Group Inc. Has $1.49 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Everhart Financial Group Inc. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,372 shares of the software maker’s stock after selling 100 shares during the quarter. Everhart Financial Group Inc.’s holdings in Intuit were worth $1,491,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Intuit during the fourth quarter valued at about $621,000. Harvest Portfolios Group Inc. lifted its stake in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares during the period. Retireful LLC acquired a new stake in Intuit during the third quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Intuit during the third quarter valued at about $56,144,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

INTU opened at $587.38 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $620.21 and its 200-day simple moving average is $630.01. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The stock has a market capitalization of $164.42 billion, a P/E ratio of 57.03, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is owned by company insiders.

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.