Nixon Peabody Trust Co. Has $1.17 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Nixon Peabody Trust Co. increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,887 shares of the software maker’s stock after buying an additional 82 shares during the period. Nixon Peabody Trust Co.’s holdings in Intuit were worth $1,172,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new position in Intuit during the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit during the second quarter worth about $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ INTU traded down $7.74 during trading on Monday, reaching $680.13. 95,642 shares of the company’s stock were exchanged, compared to its average volume of 1,330,076. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a market capitalization of $190.63 billion, a P/E ratio of 65.82, a PEG ratio of 3.36 and a beta of 1.25. The business has a 50 day moving average price of $633.08 and a 200-day moving average price of $630.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Jefferies Financial Group raised their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus upped their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $739.24.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 in the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

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.