Everhart Financial Group Inc. Raises Position in Intuit Inc. (NASDAQ:INTU)

Everhart Financial Group Inc. increased its holdings in Intuit Inc. (NASDAQ:INTU) by 16.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,268 shares of the software maker’s stock after purchasing an additional 315 shares during the quarter. Everhart Financial Group Inc.’s holdings in Intuit were worth $1,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in INTU. DiNuzzo Private Wealth Inc. purchased a new position in Intuit in the 4th quarter worth $25,000. Cultivar Capital Inc. purchased a new position in Intuit in the 2nd quarter worth $26,000. West Branch Capital LLC raised its position in Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the period. MCF Advisors LLC raised its position in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 6.8 %

NASDAQ:INTU traded down $45.44 during mid-day trading on Friday, hitting $619.85. 4,112,461 shares of the company’s stock were exchanged, compared to its average volume of 1,333,187. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The business has a fifty day moving average price of $639.27 and a 200 day moving average price of $634.44. The company has a market cap of $173.28 billion, a PE ratio of 57.18, a P/E/G ratio of 3.14 and a beta of 1.23.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.80 earnings per share. Equities analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,963 shares of company stock worth $114,442,445. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of analyst reports. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler restated an “overweight” rating and issued a $768.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday. Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, UBS Group boosted their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $703.27.

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.