Intuit Inc. (NASDAQ:INTU) Stake Trimmed by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,619 shares of the software maker’s stock after selling 1,226 shares during the quarter. Intuit accounts for about 2.1% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 16th largest holding. Nichols & Pratt Advisers LLP MA’s holdings in Intuit were worth $31,186,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in INTU. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC acquired a new stake in Intuit in the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC acquired a new stake in Intuit in the 3rd quarter worth approximately $32,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,014 shares of company stock valued at $140,855,687. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INTU. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a report on Wednesday. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday. Finally, Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $717.88.

Intuit Stock Up 2.2 %

INTU opened at $613.84 on Friday. The business’s fifty day simple moving average is $605.90 and its 200 day simple moving average is $627.25. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The stock has a market cap of $171.82 billion, a PE ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

About Intuit

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.