Evergreen Capital Management LLC Reduces Position in Intuit Inc. (NASDAQ:INTU)

Evergreen Capital Management LLC reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,314 shares of the software maker's stock after selling 445 shares during the period. Evergreen Capital Management LLC's holdings in Intuit were worth $2,711,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Jefferies Financial Group reduced their target price on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. Oppenheimer lowered their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Citigroup cut their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, StockNews.com downgraded Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued 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 $718.56.

Intuit Price Performance

Shares of INTU stock traded up $10.22 during mid-day trading on Tuesday, hitting $579.06. The company had a trading volume of 277,751 shares, compared to its average volume of 1,888,469. The company has a market capitalization of $161.88 billion, a P/E ratio of 56.23, a P/E/G ratio of 2.85 and a beta of 1.25. The stock's 50 day moving average price is $591.88 and its 200-day moving average price is $616.35. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions 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 shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The shares were 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 approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by 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.