Intuit Inc. (NASDAQ:INTU) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,987 shares of the software maker’s stock after purchasing an additional 632 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Intuit were worth $3,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Vanguard Group Inc. increased its position in Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after acquiring an additional 117,478 shares during the period. FMR LLC increased its position in Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares during the period. Morgan Stanley increased its position in Intuit by 3.7% in the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after acquiring an additional 137,198 shares during the period. Northern Trust Corp increased its position in Intuit by 5.2% in the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after acquiring an additional 160,229 shares during the period. Finally, Invesco Ltd. increased its position in Intuit by 6.6% in the 3rd quarter. Invesco Ltd. now owns 3,091,645 shares of the software maker’s stock valued at $1,579,645,000 after acquiring an additional 190,582 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock worth $3,117,156. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on INTU shares. Stifel Nicolaus lifted their price objective on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. KeyCorp lifted their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Barclays lifted their price objective on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a report on Monday. Finally, Mizuho lifted their price objective on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Price Performance

INTU stock traded up $21.11 on Tuesday, reaching $630.88. The company had a trading volume of 1,457,840 shares, compared to its average volume of 1,248,993. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company’s fifty day moving average is $641.83 and its 200 day moving average is $601.63. The company has a market cap of $176.65 billion, a P/E ratio of 64.38, a PEG ratio of 3.68 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 EPS. On average, research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

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.