Harrington Investments INC Buys 322 Shares of Intuit Inc. (NASDAQ:INTU)

Harrington Investments INC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,637 shares of the software maker’s stock after buying an additional 322 shares during the period. Intuit makes up 1.6% of Harrington Investments INC’s investment portfolio, making the stock its 24th largest holding. Harrington Investments INC’s holdings in Intuit were worth $2,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Intuit by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after buying an additional 56,370 shares in the last quarter. Finally, Capital World Investors boosted its holdings in shares of Intuit by 1.0% during the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after buying an additional 12,068 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 0.1 %

NASDAQ INTU opened at $617.16 on Tuesday. The firm has a market capitalization of $172.53 billion, a P/E ratio of 56.93, a PEG ratio of 3.04 and a beta of 1.24. The business has a fifty day simple moving average of $630.96 and a 200 day simple moving average of $628.20. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. On average, analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 38.38%.

Analyst Ratings Changes

INTU has been the topic of a number of research analyst reports. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets increased their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Finally, Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last quarter. 2.90% of the stock is currently owned by company insiders.

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.