Clear Harbor Asset Management LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Clear Harbor Asset Management LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,842 shares of the software maker’s stock after purchasing an additional 18 shares during the period. Clear Harbor Asset Management LLC’s holdings in Intuit were worth $3,027,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Intuit by 0.5% during 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 purchasing an additional 117,478 shares during the last quarter. State Street Corp grew its stake in Intuit by 1.8% in the 2nd quarter. State Street Corp now owns 11,298,299 shares of the software maker’s stock worth $5,176,768,000 after acquiring an additional 198,646 shares in the last quarter. FMR LLC grew its stake in Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after acquiring an additional 266,803 shares in the last quarter. Morgan Stanley grew its stake in Intuit by 3.7% in the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Intuit by 5.2% in the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after acquiring an additional 160,229 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. Evercore ISI increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday. Citigroup increased their price objective on shares of Intuit from $565.00 to $651.00 and gave the company a “buy” rating in a research note on Wednesday, November 29th. Finally, Stifel Nicolaus increased their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intuit news, EVP Laura A. Fennell sold 14,771 shares of Intuit stock in a transaction dated Friday, January 5th. The shares were 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 directly owns 50,030 shares of the company’s stock, valued at $29,497,688. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were 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 $2,083,313.40. 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. 2.90% of the stock is owned by company insiders.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $1.26 during midday trading on Thursday, reaching $650.00. The company’s stock had a trading volume of 1,163,209 shares, compared to its average volume of 1,243,718. The firm 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 twelve month low of $400.22 and a twelve month high of $671.01. The stock has a fifty day moving average of $646.73 and a 200 day moving average of $587.31. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, equities analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.55%. Intuit’s dividend payout ratio 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.