Harbor Investments Inc. owns $222,000 in Intuit Inc. (NASDAQ:INTU)

Harbor Investments Inc. decreased its position in Intuit Inc. (NASDAQ:INTU – Free Report) 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. Holdings held by Harbor Investments Inc. 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 second quarter valued at about $26,000. West Branch Capital LLC raised its stake in Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after buying an additional 19 shares during the period. Hobbs Group Advisors LLC bought a new stake in Intuit in the second quarter valued at about $35,000. Sachetta LLC purchased a new position in Intuit in the fourth quarter valued at about $39,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Intuit during the second quarter valued at approximately $39,000. Institutional investors own 83.66% of the company’s shares.

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 filing with the SEC, which is available via this link. In related news, EVP Mark P. Notarainni sold 965 shares of the business’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 via this link. Also, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction dated 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 shares are currently owned by company insiders.

Analysts set new price targets

Several research firms recently weighed in on INTU. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14. Bank of America boosted 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. boosted 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 price target 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.

Check out the latest stock analysis on Intuit

Intuit Price Performance

INTU opened at $630.26 on Friday. The company’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 cap 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 – Get Your Free Report ) 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 previous year, the firm posted EPS of $0.40. The company’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 raises dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10. This represents an annualized dividend of $4.16 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

(Free report)

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed individuals and accounting professionals in the United States, Canada and internationally. The company operates in four segments: Small Business and Self-Employed, Consumer, Credit Karma and ProTax.

Read more

Want to see what other hedge funds INTU owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Intuit Inc. (NASDAQ:INTU – Free Report).

Get news and reviews for Intuit Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Intuit and related companies with MarketBeat.com’s FREE daily email newsletter.