ZEGA Investments LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

ZEGA Investments LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,525 shares of the software maker’s stock, valued at approximately $912,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. Nordea Investment Management AB lifted its stake in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit in the 4th quarter valued at $621,000. Beacon Investment Advisory Services Inc. lifted its stake in Intuit by 3.8% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after acquiring an additional 1,602 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after acquiring an additional 3,648 shares during the period. Finally, Douglas Lane & Associates LLC grew its position in Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after acquiring an additional 12,916 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $604.04 on Friday. The stock’s 50-day moving average is $596.08 and its two-hundred day moving average is $622.81. 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 Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The firm has a market cap of $168.87 billion, a price-to-earnings ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,348 shares of company stock worth $73,515,245. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on INTU shares. Piper Sandler reissued an “overweight” rating and issued a $785.00 price objective (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Scotiabank dropped their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.