Quadcap Wealth Management LLC Has $924,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Quadcap Wealth Management LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470 shares of the software maker’s stock after purchasing an additional 126 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Intuit were worth $924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Intuit in the 4th quarter valued at approximately $25,000. NewSquare Capital LLC lifted its stake in shares of Intuit by 72.0% in the fourth 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. Summit Securities Group LLC bought a new position in shares of Intuit in the fourth quarter valued at $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter valued at $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the fourth quarter valued at about $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 1.3%

Shares of NASDAQ INTU opened at $661.31 on Friday. 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 Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The firm has a market capitalization of $184.88 billion, a PE ratio of 64.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The firm has a fifty day simple moving average of $606.77 and a two-hundred day simple moving average of $618.84.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.63%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Oppenheimer lowered their target price on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Morgan Stanley cut their target price on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Citigroup cut their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets cut their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group dropped their target price on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $717.53.

Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the company’s 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 transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Intuit 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.