Nixon Peabody Trust Co. Has $1.23 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Nixon Peabody Trust Co. increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,954 shares of the software maker’s stock after purchasing an additional 67 shares during the period. Nixon Peabody Trust Co.’s holdings in Intuit were worth $1,228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Proficio Capital Partners LLC boosted its stake in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after buying an additional 312,212 shares during the last quarter. 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 worth $371,984,000 after buying an additional 268,060 shares during the last quarter. State Street Corp boosted its stake in shares of Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Intuit during the 4th quarter worth about $104,278,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is owned by insiders.

Intuit Stock Up 2.2 %

Intuit stock opened at $613.84 on Friday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The stock has a market cap of $171.82 billion, a PE ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The firm’s 50-day simple moving average is $605.90 and its 200 day simple moving average is $627.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INTU. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $717.88.

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.