Nichols & Pratt Advisers LLP MA Decreases Holdings in Intuit Inc. (NASDAQ:INTU)

Nichols & Pratt Advisers LLP MA cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 49,619 shares of the software maker’s stock after selling 1,226 shares during the quarter. Intuit makes up about 2.1% of Nichols & Pratt Advisers LLP MA’s holdings, making the stock its 16th largest holding. Nichols & Pratt Advisers LLP MA’s holdings in Intuit were worth $31,186,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its position 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 valued at $668,595,000 after acquiring an additional 1,062,847 shares during the period. Holocene Advisors LP grew its position 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 valued at $388,487,000 after acquiring an additional 312,212 shares during the period. Nordea Investment Management AB grew its position 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 valued at $371,984,000 after acquiring an additional 268,060 shares during the period. State Street Corp grew its position 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 valued at $7,648,910,000 after acquiring an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Intuit during the 4th quarter valued at $104,278,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

Intuit stock opened at $613.84 on Friday. The company’s 50 day simple moving average is $605.90 and its 200-day simple moving average is $627.25. The company has a market capitalization of $171.82 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth 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 debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $12,286.92. This represents a 99.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’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 sale, the chief accounting officer now directly owns 1,864 shares in the company, 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. Insiders have sold a total of 218,014 shares of company stock valued at $140,855,687 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. BMO Capital Markets reduced their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday. Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group raised their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One 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 has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

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.