Nebula Research & Development LLC Takes $3.03 Million Position in Intuit Inc. (NASDAQ:INTU)

Nebula Research & Development LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,818 shares of the software maker's stock, valued at approximately $3,028,000.

Several other hedge funds have also recently bought and sold shares of the company. Lord Abbett & CO. LLC lifted its position in Intuit by 12.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,589 shares of the software maker's stock valued at $999,000 after purchasing an additional 181 shares during the last quarter. Kovitz Investment Group Partners LLC increased its stake in Intuit by 18.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 45,013 shares of the software maker's stock valued at $28,291,000 after buying an additional 6,867 shares during the period. Hancock Whitney Corp increased its stake in Intuit by 3.2% during the 4th quarter. Hancock Whitney Corp now owns 19,376 shares of the software maker's stock valued at $12,178,000 after buying an additional 609 shares during the period. Integrated Wealth Concepts LLC increased its stake in Intuit by 60.1% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,964 shares of the software maker's stock valued at $1,863,000 after buying an additional 1,113 shares during the period. Finally, Burling Wealth Partners LLC acquired a new position in Intuit during the 4th quarter valued at about $2,943,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on INTU shares. Mizuho raised their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and increased their target price for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Piper Sandler restated an "overweight" rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. BMO Capital Markets reduced their target price on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. One equities research 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 stock. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and an average price target of $717.53.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $5.89 during midday trading on Monday, hitting $618.23. The company's stock had a trading volume of 1,355,770 shares, compared to its average volume of 1,580,601. The stock has a market capitalization of $172.83 billion, a price-to-earnings ratio of 60.02, a PEG ratio of 2.85 and a beta of 1.25. The stock's 50 day simple moving average is $593.48 and its 200 day simple moving average is $616.08. 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.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This represents a 0.10 % 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 over the last three months. 2.68% of the stock is owned by corporate insiders.

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.