Harel Insurance Investments & Financial Services Ltd. Has $987,000 Position in Intuit Inc. (NASDAQ:INTU)

Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 471.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,607 shares of the software maker's stock after acquiring an additional 1,326 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Intuit were worth $987,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Copia Wealth Management acquired a new position in Intuit in the 4th quarter worth about $25,000. Summit Securities Group LLC bought a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter worth approximately $28,000. VSM Wealth Advisory LLC bought a new position in Intuit during the fourth quarter valued at approximately $35,000. Finally, Rialto Wealth Management LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $41,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Up 1.1%

INTU opened at $782.26 on Friday. The company has a market capitalization of $218.21 billion, a P/E ratio of 63.49, a P/E/G ratio of 3.47 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm's fifty day moving average price is $718.90 and its two-hundred day moving average price is $642.44. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $9.88 EPS. On average, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. Intuit's dividend payout ratio is presently 33.77%.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Bank of America increased their price target on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $850.00 target price (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. BMO Capital Markets restated an "outperform" rating and set a $820.00 target price (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. Citigroup reiterated a "buy" rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average price target of $793.05.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 1,618 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $1,252,170.20. Following the sale, the chief financial officer directly owned 768 shares in the company, valued at $594,355.20. This represents a 67.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,738 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the sale, the chief accounting officer owned 455 shares in the company, valued at $356,760.95. The trade was a 79.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,661 shares of company stock worth $206,491,776 in the last quarter. 2.68% of the stock is owned by corporate insiders.

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.

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