Proficio Capital Partners LLC Has $1.06 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Proficio Capital Partners LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 78.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,693 shares of the software maker's stock after acquiring an additional 746 shares during the quarter. Proficio Capital Partners LLC's holdings in Intuit were worth $1,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit in the 4th quarter worth approximately $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INTU. JPMorgan Chase & Co. raised shares of Intuit from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Piper Sandler reissued an "overweight" rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. Citigroup dropped their target price on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Finally, Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus price target of $721.61.

Remove Ads

Insider Transactions at Intuit

In related news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly owns 40,190 shares of the company's stock, valued at $24,119,224.70. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the company'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 sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 124,733 shares of company stock valued at $77,947,205. Company insiders own 2.68% of the company's stock.

Intuit Stock Performance

INTU traded up $5.63 on Tuesday, hitting $618.72. 1,126,519 shares of the stock traded hands, compared to its average volume of 1,439,323. The business has a fifty day moving average price of $596.08 and a two-hundred day moving average price of $622.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $172.97 billion, a PE ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio is 38.81%.

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.