Proficio Capital Partners LLC Buys 746 Shares of Intuit Inc. (NASDAQ:INTU)

Proficio Capital Partners LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 78.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,693 shares of the software maker’s stock after acquiring an additional 746 shares during the period. Proficio Capital Partners LLC’s holdings in Intuit were worth $1,064,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC boosted its holdings 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 in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the 4th quarter valued at $29,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup dropped their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Redburn Atlantic started coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $604.04 on Friday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a market cap of $168.87 billion, a price-to-earnings ratio of 58.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day simple moving average of $596.08 and a two-hundred day simple moving average of $622.81.

Intuit Dividend Announcement

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

Insider Activity

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value 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 trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,348 shares of company stock valued at $73,515,245 in the last quarter. 2.68% of the stock is currently owned by insiders.

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.