Brooklyn Investment Group Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Brooklyn Investment Group boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,185 shares of the software maker’s stock after purchasing an additional 45 shares during the quarter. Brooklyn Investment Group’s holdings in Intuit were worth $1,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Harvest Portfolios Group Inc. raised its position in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the last quarter. GAMMA Investing LLC raised its position in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares during the last quarter. Retireful LLC purchased a new stake in Intuit in the 3rd quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit in the 3rd quarter valued at $56,144,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % 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 hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last 90 days. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INTU. Jefferies Financial Group boosted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Down 0.5 %

INTU opened at $604.13 on Friday. The firm has a 50 day moving average price of $647.69 and a 200 day moving average price of $637.39. The company has a market cap of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

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.