Nicolet Advisory Services LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Nicolet Advisory Services LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 873 shares of the software maker’s stock after buying an additional 75 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Intuit were worth $544,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB increased its stake in Intuit by 83.2% in 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 in the last quarter. Whalen Wealth Management Inc. purchased a new stake in Intuit during the 4th quarter valued at approximately $621,000. Beacon Investment Advisory Services Inc. raised its position in shares of Intuit by 3.8% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after buying an additional 1,602 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after buying an additional 3,648 shares in the last quarter. Finally, Douglas Lane & Associates LLC boosted its position in shares of Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after acquiring an additional 12,916 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $598.53 on Friday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a market capitalization of $167.33 billion, a PE ratio of 58.11, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a 50 day moving average price of $596.37 and a 200-day moving average price of $621.54. 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. 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 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is currently 38.81%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,862 shares of company stock valued at $18,767,673 over the last three months. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Scotiabank cut their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group reduced their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $718.00.

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.