Harvest Fund Management Co. Ltd Buys 3,597 Shares of Intuit Inc. (NASDAQ:INTU)

Harvest Fund Management Co. Ltd grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,474 shares of the software maker’s stock after purchasing an additional 3,597 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Intuit were worth $10,354,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new stake in Intuit during the fourth quarter worth about $621,000. Retireful LLC bought a new stake in Intuit during the third quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit during the third quarter worth about $56,144,000. Finally, Howe & Rusling Inc. boosted its stake in Intuit by 8.0% during the third quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock worth $6,742,000 after acquiring an additional 808 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,646 shares of company stock valued at $72,494,045 over the last three months. Insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. Scotiabank dropped their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Mizuho boosted their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Intuit Stock Down 0.5 %

INTU opened at $599.03 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $597.44 and a 200-day moving average price of $623.29. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The stock has a market capitalization of $167.47 billion, a price-to-earnings ratio of 58.16, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s payout ratio is 38.81%.

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.