Intuit Inc. (NASDAQ:INTU) Stake Boosted by Brooklyn Investment Group

Brooklyn Investment Group increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,185 shares of the software maker’s stock after purchasing an additional 45 shares during the period. Brooklyn Investment Group’s holdings in Intuit were worth $1,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC lifted its stake in Intuit by 53.9% during the fourth quarter. Merit Financial Group LLC now owns 3,999 shares of the software maker’s stock worth $2,513,000 after purchasing an additional 1,400 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Intuit by 9.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 100,981 shares of the software maker’s stock valued at $63,467,000 after buying an additional 8,441 shares during the last quarter. Relyea Zuckerberg Hanson LLC lifted its stake in Intuit by 9.4% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 709 shares of the software maker’s stock valued at $446,000 after buying an additional 61 shares during the last quarter. Avanza Fonder AB bought a new stake in Intuit in the fourth quarter valued at $230,000. Finally, Cvfg LLC bought a new stake in Intuit in the fourth quarter valued at $1,219,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on INTU shares. Barclays cut their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday. Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Buying and Selling at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

NASDAQ INTU opened at $604.13 on Friday. The stock’s 50-day moving average price is $647.69 and its two-hundred day moving average price is $637.39. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $169.11 billion, a PE ratio of 58.65, a PEG 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.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. On average, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

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

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.