Brookstone Capital Management Purchases 35 Shares of Intuit Inc. (NASDAQ:INTU)

Brookstone Capital Management boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,020 shares of the software maker’s stock after buying an additional 35 shares during the quarter. Brookstone Capital Management’s holdings in Intuit were worth $1,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in INTU. LGT Financial Advisors LLC purchased a new stake in Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new position in Intuit in the 2nd quarter worth $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit in the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at about $35,000. Finally, Trifecta Capital Advisors LLC increased its position in shares of Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Bank of America increased their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Jefferies Financial Group increased their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $735.71.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Down 0.4 %

Shares of INTU stock opened at $616.68 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The stock has a market cap of $172.39 billion, a P/E ratio of 56.89, a P/E/G ratio of 3.04 and a beta of 1.24. The company has a 50 day simple moving average of $630.68 and a two-hundred day simple moving average of $628.66.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business earned $0.40 earnings per share. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 38.38%.

Intuit Company 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.