Intuit Inc. (NASDAQ:INTU) Shares Acquired by Evergreen Capital Management LLC

Evergreen Capital Management LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,331 shares of the software maker’s stock after acquiring an additional 73 shares during the period. Evergreen Capital Management LLC’s holdings in Intuit were worth $2,846,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter worth about $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the 2nd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Intuit during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on INTU shares. Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Royal Bank of Canada assumed coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price target (up previously from $760.00) on shares of Intuit in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

Intuit Stock Performance

Shares of INTU stock opened at $641.97 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $179.46 billion, a price-to-earnings ratio of 59.22, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a 50 day moving average price of $636.49 and a 200 day moving average price of $631.06.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. Sell-side analysts anticipate that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.65%. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Insider Activity at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,389 shares of company stock worth $14,231,188. Company insiders own 2.90% of the company’s stock.

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.