Harbour Investments Inc. Has $222,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Harbour Investments Inc. decreased its position in Intuit Inc. (NASDAQ:INTU) by 4.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 337 shares of the software maker’s stock after selling 17 shares during the period. Harbour Investments Inc.’s holdings in Intuit were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of INTU. Cultivar Capital Inc. bought a new position in shares of Intuit in the 2nd quarter worth about $26,000. West Branch Capital LLC grew its stake in Intuit by 79.2% during the first 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. Hobbs Group Advisors LLC bought a new stake in Intuit in the second quarter worth approximately $35,000. Sachetta LLC acquired a new position in Intuit in the fourth quarter valued at approximately $39,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Intuit during the 2nd quarter worth approximately $39,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The disclosure for this sale can be found here. Insiders sold 104,367 shares of company stock worth $60,118,991 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on INTU. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. KeyCorp boosted their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Saturday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $716.35.

Intuit Price Performance

INTU opened at $630.26 on Friday. The firm’s fifty day moving average price is $640.17 and its two-hundred day moving average price is $633.70. The company has a market capitalization of $176.19 billion, a price-to-earnings ratio of 58.14, a P/E/G ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.66%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Intuit 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.