Intuit Inc. (NASDAQ:INTU) Shares Bought by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,141 shares of the software maker’s stock after buying an additional 97 shares during the period. Brookstone Capital Management’s holdings in Intuit were worth $1,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTU. DiNuzzo Private Wealth Inc. acquired a new position in Intuit during the fourth quarter worth $25,000. MCF Advisors LLC increased its stake in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Intuit during the 4th quarter worth about $38,000. Sachetta LLC acquired a new stake in Intuit in the 4th quarter worth about $39,000. Finally, Webster Bank N. A. acquired a new stake in Intuit in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INTU shares. Piper Sandler raised their target price on Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Jefferies Financial Group restated a “buy” rating and set a $770.00 price target on shares of Intuit in a research report on Thursday, June 13th. Stifel Nicolaus dropped their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Citigroup increased their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley upped their price target on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $683.91.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intuit news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the transaction, the insider now owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock worth $113,123,232 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $657.21 on Friday. The stock’s 50-day moving average is $618.61 and its two-hundred day moving average is $627.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $183.72 billion, a price-to-earnings ratio of 60.63, a price-to-earnings-growth ratio of 3.66 and a beta of 1.21. Intuit Inc. has a 1-year low of $444.19 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period in the prior year, the firm earned $7.80 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts forecast that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.