Harbor Investment Advisory LLC Has $766,000 Stake in Intuit Inc. (NASDAQ:INTU)

Harbor Investment Advisory LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.0% in the 1st quarter, Holdings Channel reports. The fund owned 1,178 shares of the software maker’s stock after buying an additional 23 shares during the period. Harbor Investment Advisory LLC’s holdings in Intuit were worth $766,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of INTU. Desjardins Global Asset Management Inc. grew its holdings in shares of Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after acquiring an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after acquiring an additional 16 shares during the last quarter. GAM Holding AG boosted its holdings in Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC boosted its holdings in Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Down 1.3 %

NASDAQ INTU opened at $623.88 on Tuesday. The firm has a market capitalization of $174.41 billion, a P/E ratio of 57.55, a PEG ratio of 3.62 and a beta of 1.21. The business has a fifty day simple moving average of $615.85 and a 200 day simple moving average of $626.79. Intuit Inc. has a 12 month low of $444.19 and a 12 month high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. Intuit’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.80 EPS. On average, analysts predict that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Morgan Stanley upped their target price on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. UBS Group upped their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Piper Sandler increased their price target on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Finally, BMO Capital Markets restated an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $679.41.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the transaction, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the transaction, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The disclosure for this sale can be found here. Insiders sold 193,937 shares of company stock worth $113,123,232 in the last quarter. 2.90% of the stock is currently owned by company insiders.

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.