9,519 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Everest Management Corp.

Everest Management Corp. purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, Holdings Channel reports. The fund purchased 9,519 shares of the software maker’s stock, valued at approximately $5,983,000. Intuit accounts for about 5.3% of Everest Management Corp.’s holdings, making the stock its 3rd biggest position.

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

Intuit Stock Performance

Intuit stock opened at $561.53 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $156.98 billion, a PE ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The business’s 50-day moving average price is $595.64 and its two-hundred day moving average price is $620.79.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 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 0.74%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Insider Activity at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,862 shares of company stock valued at $18,767,673 in the last quarter. Insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Scotiabank dropped their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $718.00.

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.