Nicolet Bankshares Inc. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,874 shares of the software maker’s stock after selling 73 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Intuit were worth $1,012,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Boston Advisors LLC lifted its stake in shares of Intuit by 0.3% in the second quarter. Boston Advisors LLC now owns 35,203 shares of the software maker’s stock worth $9,200,000 after acquiring an additional 116 shares during the period. Dupont Capital Management Corp increased its holdings in Intuit by 60.5% in the second quarter. Dupont Capital Management Corp now owns 8,056 shares of the software maker’s stock worth $2,105,000 after purchasing an additional 3,037 shares in the last quarter. Ibex Wealth Advisors bought a new stake in Intuit in the second quarter worth approximately $48,000. ARK Investment Management LLC increased its holdings in Intuit by 35.3% in the second quarter. ARK Investment Management LLC now owns 8,312 shares of the software maker’s stock worth $2,172,000 after purchasing an additional 2,169 shares in the last quarter. Finally, Alpha Windward LLC increased its holdings in Intuit by 32.6% in the second quarter. Alpha Windward LLC now owns 1,585 shares of the software maker’s stock worth $446,000 after purchasing an additional 390 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.
Intuit stock traded down $0.13 during trading on Friday, hitting $276.57. 1,216,879 shares of the company were exchanged, compared to its average volume of 1,163,085. The firm has a 50 day simple moving average of $273.24. Intuit Inc. has a 52 week low of $182.61 and a 52 week high of $284.97. The company has a market capitalization of $71.73 billion, a P/E ratio of 61.05, a P/E/G ratio of 2.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.85 and a quick ratio of 1.85.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.88 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 41.50%.
In related news, CFO Michelle M. Clatterbuck sold 10,628 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the completion of the sale, the chief financial officer now owns 10,628 shares in the company, valued at $2,723,637.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Scott D. Cook sold 103,817 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $258.59, for a total value of $26,846,038.03. The disclosure for this sale can be found here. Insiders have sold 277,296 shares of company stock valued at $72,342,898 in the last quarter. 4.60% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Barclays lifted their target price on Intuit from $225.00 to $237.00 and gave the stock an “equal weight” rating in a report on Friday, May 24th. BidaskClub upgraded Intuit from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 9th. UBS Group boosted their price objective on Intuit from $245.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, May 24th. Jefferies Financial Group boosted their price objective on Intuit from $272.00 to $300.00 and gave the company a “buy” rating in a report on Friday, May 24th. Finally, ValuEngine downgraded Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $254.15.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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