Brighton Jones LLC Has $1.37 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Brighton Jones LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 37.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,202 shares of the software maker’s stock after selling 1,294 shares during the period. Brighton Jones LLC’s holdings in Intuit were worth $1,368,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INTU shares. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Piper Sandler reissued an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Stifel Nicolaus raised their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada started coverage on shares of Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Finally, BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were 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 directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Up 0.3 %

INTU opened at $603.98 on Friday. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $628.71 and a 200-day moving average of $627.16. The stock has a market cap of $168.84 billion, a PE ratio of 55.72, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company posted $0.40 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.