Brooklyn Investment Group Grows Stake in Intuit Inc. (NASDAQ:INTU)

Brooklyn Investment Group boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 1.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,140 shares of the software maker’s stock after purchasing an additional 32 shares during the quarter. Brooklyn Investment Group’s holdings in Intuit were worth $1,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC purchased a new stake in Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Intuit during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock worth $35,200,125 in the last three months. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Up 0.1 %

Shares of Intuit stock opened at $635.00 on Tuesday. The firm has a market cap of $177.88 billion, a PE ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The business’s fifty day moving average is $634.58 and its two-hundred day moving average is $631.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on INTU shares. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Barclays decreased their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday. BMO Capital Markets increased their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday. Finally, Oppenheimer increased their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $737.44.

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.