Harbor Investment Advisory LLC Reduces Position in Intuit Inc. (NASDAQ:INTU)

Harbor Investment Advisory LLC reduced its position in Intuit Inc. (NASDAQ:INTU) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,257 shares of the software maker’s stock after selling 78 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Intuit were worth $790,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in INTU. Thrivent Financial for Lutherans lifted its holdings in shares of Intuit by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock worth $9,427,000 after buying an additional 186 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Intuit by 14.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 525 shares of the software maker’s stock worth $340,000 after purchasing an additional 68 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Intuit by 71.9% during the second quarter. Public Sector Pension Investment Board now owns 10,717 shares of the software maker’s stock valued at $7,043,000 after purchasing an additional 4,483 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in Intuit by 1.7% during the second quarter. Evergreen Capital Management LLC now owns 4,331 shares of the software maker’s stock valued at $2,846,000 after buying an additional 73 shares during the period. Finally, Farallon Capital Management LLC boosted its position in Intuit by 17.1% during the 2nd quarter. Farallon Capital Management LLC now owns 629,097 shares of the software maker’s stock valued at $413,449,000 after acquiring an additional 92,019 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $609.41 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average of $644.23 and a 200 day moving average of $636.37. The firm has a market cap of $170.59 billion, a PE ratio of 59.17, a PEG ratio of 2.98 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last released its 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. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. As a group, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analyst Weigh In

Several research firms have recently commented on INTU. JPMorgan Chase & Co. boosted their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last ninety days. Insiders own 2.68% of the company’s stock.

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.