Harbor Capital Advisors Inc. Has $3.67 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Harbor Capital Advisors Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 78.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,982 shares of the software maker's stock after buying an additional 2,629 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Intuit were worth $3,673,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after acquiring an additional 353,185 shares during the period. Geode Capital Management LLC raised its holdings in Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Norges Bank purchased a new stake in Intuit during the fourth quarter worth $2,290,419,000. Finally, Northern Trust Corp boosted its position in shares of Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after acquiring an additional 498,030 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Intuit stock traded up $4.54 during trading hours on Thursday, hitting $769.29. The company had a trading volume of 285,239 shares, compared to its average volume of 1,613,584. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The firm has a 50-day moving average of $656.45 and a 200 day moving average of $628.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $214.59 billion, a PE ratio of 74.69, a PEG ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the firm posted $9.88 earnings per share. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 62,816 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the transaction, the insider now directly owns 6,000,679 shares of the company's stock, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on INTU shares. Wells Fargo & Company reiterated an "overweight" rating and set a $825.00 target price (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $785.00 price objective (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $820.00 price objective (up from $714.00) on shares of Intuit in a research note on Friday, May 23rd. The Goldman Sachs Group raised their price objective on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, Citigroup restated a "buy" rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $785.33.

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.