Clear Harbor Asset Management LLC Has $3.03 Million Position in Intuit Inc. (NASDAQ:INTU)

Clear Harbor Asset Management LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,842 shares of the software maker’s stock after buying an additional 18 shares during the period. Clear Harbor Asset Management LLC’s holdings in Intuit were worth $3,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Glenview Trust co increased its holdings in Intuit by 1.9% in the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after buying an additional 19 shares during the last quarter. Verity Asset Management Inc. boosted its position in Intuit by 2.5% during the third quarter. Verity Asset Management Inc. now owns 769 shares of the software maker’s stock worth $393,000 after purchasing an additional 19 shares during the period. Steward Financial Group LLC boosted its position in Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the period. Stratos Wealth Advisors LLC boosted its position in Intuit by 0.9% during the third quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock worth $1,145,000 after purchasing an additional 20 shares during the period. Finally, Hamilton Point Investment Advisors LLC boosted its position in Intuit by 2.4% during the third quarter. Hamilton Point Investment Advisors LLC now owns 862 shares of the software maker’s stock worth $440,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the transaction, the executive vice president now owns 50,030 shares in the company, valued at $29,497,688. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Laura A. Fennell sold 14,771 shares of Intuit stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the transaction, the executive vice president now owns 50,030 shares in the company, valued at approximately $29,497,688. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were 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. Over the last quarter, insiders have sold 34,260 shares of company stock worth $20,667,475. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Susquehanna upped their target price on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. upped their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, KeyCorp upped their target price on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Trading Up 0.2 %

Intuit stock traded up $1.26 during mid-day trading on Thursday, hitting $650.00. The stock had a trading volume of 1,163,209 shares, compared to its average volume of 1,243,718. The stock has a 50-day simple moving average of $646.73 and a two-hundred day simple moving average of $587.31. The stock has a market capitalization of $182 billion, a PE ratio of 66.33, a P/E/G ratio of 3.90 and a beta of 1.22. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the business earned $1.05 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is currently 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.