Evergreen Private Wealth LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Evergreen Private Wealth LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,455 shares of the software maker’s stock after purchasing an additional 227 shares during the quarter. Intuit comprises about 2.1% of Evergreen Private Wealth LLC’s investment portfolio, making the stock its 21st biggest position. Evergreen Private Wealth LLC’s holdings in Intuit were worth $4,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Copia Wealth Management acquired a new stake in shares of Intuit during the 4th quarter valued at approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the 4th quarter worth about $28,000. VSM Wealth Advisory LLC acquired a new stake in shares of Intuit in the 4th quarter worth approximately $35,000. Finally, Olde Wealth Management LLC bought a new position in shares of Intuit in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU opened at $747.90 on Monday. The firm has a market cap of $208.63 billion, a P/E ratio of 60.71, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The business has a 50 day moving average price of $733.03 and a 200 day moving average price of $646.71. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $9.88 EPS. Research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders 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 dividend yield of 0.56%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is currently 33.77%.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,738 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the transaction, the chief accounting officer directly owned 455 shares in the company, valued at approximately $356,760.95. This represents a 79.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 1,147 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the transaction, the executive vice president directly owned 19 shares of the company’s stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 in the last quarter. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research analyst reports. Wells Fargo & Company set a $880.00 target price on Intuit and gave the stock an “overweight” rating in a research report on Friday, June 13th. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a “buy” rating in a report on Friday, May 23rd. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $800.55.

About Intuit

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.