Everest Management Corp. Takes $5.98 Million Position in Intuit Inc. (NASDAQ:INTU)

Everest Management Corp. purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,519 shares of the software maker’s stock, valued at approximately $5,983,000. Intuit makes up approximately 5.3% of Everest Management Corp.’s holdings, making the stock its 3rd largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. R Squared Ltd bought a new stake in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new position in Intuit during the 4th quarter valued at about $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the 4th quarter valued at about $28,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 6.2 %

Shares of Intuit stock opened at $561.53 on Friday. The company has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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 business has a 50-day moving average of $595.64 and a two-hundred day moving average of $620.79. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.74%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on INTU shares. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Piper Sandler restated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Mizuho upped their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Jefferies Financial Group decreased their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $718.00.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,862 shares of company stock valued at $18,767,673. 2.68% of the stock is currently owned by corporate insiders.

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.