Harbor Investment Advisory LLC Sells 78 Shares of Intuit Inc. (NASDAQ:INTU)

Harbor Investment Advisory LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 5.8% during the fourth quarter, according to its most recent 13F 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.

Other institutional investors also recently modified their holdings of the company. Brown Financial Advisors increased its stake in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares in the last quarter. Truvestments Capital LLC increased its position in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares in the last quarter. Aviso Wealth Management increased its position in Intuit by 4.9% during the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after buying an additional 17 shares in the last quarter. CVA Family Office LLC raised its stake in Intuit by 3.3% during the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after buying an additional 17 shares during the last quarter. Finally, Chris Bulman Inc boosted its holdings in Intuit by 1.1% in the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after acquiring an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INTU. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Morgan Stanley upped their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus reduced their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Up 0.9 %

NASDAQ INTU opened at $609.41 on Wednesday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $170.59 billion, a PE ratio of 59.17, a P/E/G ratio of 2.98 and a beta of 1.25. The stock’s 50 day moving average is $644.23 and its 200 day moving average is $636.37.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is presently 40.39%.

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.