K.J. Harrison & Partners Inc Makes New Investment in Intuit Inc. (NASDAQ:INTU)

K.J. Harrison & Partners Inc purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 500 shares of the software maker’s stock, valued at approximately $313,000.

Other institutional investors also recently modified their holdings of the company. Strategic Blueprint LLC bought a new position in Intuit during the third quarter valued at approximately $221,000. Connecticut Wealth Management LLC grew its holdings in shares of Intuit by 92.5% in the third quarter. Connecticut Wealth Management LLC now owns 895 shares of the software maker’s stock worth $457,000 after acquiring an additional 430 shares during the period. Ballentine Partners LLC increased its position in Intuit by 3.5% during the third quarter. Ballentine Partners LLC now owns 2,303 shares of the software maker’s stock valued at $1,177,000 after acquiring an additional 78 shares during the last quarter. Family Firm Inc. boosted its position in Intuit by 2.8% in the third quarter. Family Firm Inc. now owns 773 shares of the software maker’s stock worth $395,000 after purchasing an additional 21 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC grew its stake in shares of Intuit by 6.0% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 514 shares of the software maker’s stock valued at $262,000 after purchasing an additional 29 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.6 %

Shares of INTU stock traded up $10.16 during mid-day trading on Friday, hitting $636.55. The stock had a trading volume of 1,192,496 shares, compared to its average volume of 1,208,945. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm’s 50-day moving average is $640.26 and its two-hundred day moving average is $602.74. The firm has a market capitalization of $178.23 billion, a P/E ratio of 64.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.21.

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 the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. On average, analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INTU. Mizuho increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. upped their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Piper Sandler lifted their target price on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Barclays boosted their price objective on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, KeyCorp lifted their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

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.