Harbor Capital Advisors Inc. Purchases 76 Shares of Intuit Inc. (NASDAQ:INTU)

Harbor Capital Advisors Inc. increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,353 shares of the software maker’s stock after buying an additional 76 shares during the period. Harbor Capital Advisors Inc.’s holdings in Intuit were worth $2,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. Fairway Wealth LLC bought a new position in shares of Intuit in the second quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the 3rd quarter valued at approximately $27,000. Denver PWM LLC bought a new position in Intuit in the 3rd quarter worth approximately $32,000. Dunhill Financial LLC lifted its holdings in shares of Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the last quarter. Finally, Groupama Asset Managment boosted its position in shares of Intuit by 10.6% in the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock valued at $47,000 after acquiring an additional 720 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

NASDAQ:INTU opened at $623.43 on Friday. The firm 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. The company’s 50-day moving average price is $649.58 and its two-hundred day moving average price is $638.21. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio is 40.39%.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % 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 90 days. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

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.