4,548 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,548 shares of the software maker's stock, valued at approximately $2,858,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC lifted its position in Intuit by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares during the period. Norges Bank acquired a new position in Intuit during the 4th quarter worth $2,290,419,000. Finally, Bank of New York Mellon Corp lifted its holdings in Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock worth $1,499,744,000 after purchasing an additional 88,487 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Up 1.5 %

Shares of Intuit stock opened at $624.12 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $174.48 billion, a price-to-earnings ratio of 60.59, a PEG ratio of 2.85 and a beta of 1.25. The firm's 50-day moving average price is $593.48 and its two-hundred day moving average price is $616.11. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit's dividend payout ratio is currently 38.81%.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 in the last 90 days. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Oppenheimer dropped their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Morgan Stanley dropped their price target on Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. BNP Paribas downgraded shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group reduced their price target on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $717.53.

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.

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