Harvest Portfolios Group Inc. Acquires 1,853 Shares of Intuit Inc. (NASDAQ:INTU)

Harvest Portfolios Group Inc. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,902 shares of the software maker’s stock after buying an additional 1,853 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Intuit were worth $22,295,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in INTU. Catalina Capital Group LLC boosted its stake in Intuit by 14.5% in the third quarter. Catalina Capital Group LLC now owns 946 shares of the software maker’s stock worth $587,000 after buying an additional 120 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Intuit by 36.1% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 667 shares of the software maker’s stock worth $414,000 after acquiring an additional 177 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Intuit by 5.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 1,663 shares of the software maker’s stock valued at $1,032,000 after purchasing an additional 90 shares in the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of Intuit by 20.1% during the 3rd quarter. Pittenger & Anderson Inc. now owns 3,741 shares of the software maker’s stock valued at $2,323,000 after purchasing an additional 625 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Intuit by 7.2% during the 3rd quarter. Amalgamated Bank now owns 63,974 shares of the software maker’s stock valued at $39,728,000 after purchasing an additional 4,289 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America upped their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Up 3.0 %

Shares of NASDAQ:INTU opened at $637.50 on Wednesday. The firm has a market capitalization of $178.68 billion, a P/E ratio of 59.22, a P/E/G ratio of 3.04 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a 50 day moving average price of $622.80 and a 200-day moving average price of $626.81. Intuit Inc. has a 52-week low of $506.97 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

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.