Intuit Inc. (NASDAQ:INTU) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,353 shares of the software maker’s stock after acquiring an additional 76 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Intuit were worth $2,107,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the period. Harvest Portfolios Group Inc. lifted its stake in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares in the last quarter. Retireful LLC bought a new position in shares of Intuit in the third quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intuit during the third quarter valued at approximately $56,144,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $623.43 on Friday. The stock has a market cap of $174.51 billion, a PE ratio of 60.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. 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 business has a fifty day simple moving average of $649.58 and a 200-day simple moving average of $638.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. On average, sell-side analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Analysts Set New Price Targets

INTU has been the subject of a number of research analyst reports. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Insider Activity

In related news, CFO Sandeep Aujla sold 1,300 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total value of $814,346.00. Following the transaction, the chief financial officer now owns 644 shares in the company, valued at approximately $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 291,936 shares of company stock worth $188,324,604 in the last ninety days. Corporate insiders own 2.68% of the company’s stock.

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.