Nixon Peabody Trust Co. Acquires 67 Shares of Intuit Inc. (NASDAQ:INTU)

Nixon Peabody Trust Co. increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,954 shares of the software maker’s stock after acquiring an additional 67 shares during the period. Nixon Peabody Trust Co.’s holdings in Intuit were worth $1,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in Intuit during the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. increased its holdings in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the period. Retireful LLC bought a new stake in Intuit during the 3rd quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Intuit during the 3rd quarter worth approximately $56,144,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,014 shares of company stock valued at $140,855,687. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INTU. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday. Citigroup dropped their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets dropped their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $717.88.

Intuit Stock Performance

INTU opened at $613.84 on Friday. The firm has a market cap of $171.82 billion, a P/E ratio of 59.60, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The company has a 50 day simple moving average of $605.90 and a two-hundred day simple moving average of $627.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 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.