ZEGA Investments LLC Buys New Holdings in Intuit Inc. (NASDAQ:INTU)

ZEGA Investments LLC purchased a new position in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent filing with the SEC. 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 bought and sold shares of INTU. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Intuit during the fourth quarter worth about $29,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ:INTU opened at $604.04 on Friday. The company has a market cap of $168.87 billion, a P/E ratio of 58.64, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The company’s 50-day moving average price is $596.08 and its 200-day moving average price is $622.81. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders 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 yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INTU shares. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $721.61.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,348 shares of company stock worth $73,515,245 in the last ninety days. Insiders own 2.68% of the company’s stock.

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.