Nicholas Investment Partners LP Reduces Stake in Intuit Inc. (NASDAQ:INTU)

Nicholas Investment Partners LP lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 27.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,953 shares of the software maker's stock after selling 1,110 shares during the period. Nicholas Investment Partners LP's holdings in Intuit were worth $1,856,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the 4th quarter worth about $28,000. Finally, Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. Institutional investors own 83.66% of the company's stock.

Insider Activity

In other news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Up 0.3%

Intuit stock traded up $2.20 during mid-day trading on Monday, reaching $672.48. The stock had a trading volume of 367,689 shares, compared to its average volume of 1,605,235. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week 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. The stock's 50-day simple moving average is $608.44 and its 200-day simple moving average is $619.21. The firm has a market capitalization of $188.00 billion, a PE ratio of 65.30, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup dropped their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Oppenheimer decreased their target price on Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Piper Sandler reaffirmed an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group decreased their target price on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $720.16.

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.