Brookstone Capital Management Acquires 97 Shares of Intuit Inc. (NASDAQ:INTU)

Brookstone Capital Management grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,141 shares of the software maker’s stock after purchasing an additional 97 shares during the period. Brookstone Capital Management’s holdings in Intuit were worth $1,392,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Intuit in the fourth quarter worth $25,000. MCF Advisors LLC raised its holdings in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Intuit in the fourth quarter worth approximately $38,000. Sachetta LLC purchased a new stake in shares of Intuit during the fourth quarter valued at approximately $39,000. Finally, Webster Bank N. A. bought a new stake in shares of Intuit during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INTU shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $770.00 price objective on shares of Intuit in a research report on Thursday, June 13th. Susquehanna dropped their price objective on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. UBS Group boosted their target price on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Stifel Nicolaus dropped their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, Morgan Stanley boosted their price objective on shares of Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $683.91.

Intuit Trading Up 0.9 %

Intuit stock opened at $657.21 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a 12-month low of $444.19 and a 12-month high of $676.62. The firm has a market capitalization of $183.72 billion, a price-to-earnings ratio of 60.63, a P/E/G ratio of 3.66 and a beta of 1.21. The firm has a 50 day moving average of $618.61 and a 200 day moving average of $627.92.

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

Intuit Announces Dividend

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 paid a dividend of $0.90 per share. 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%.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the sale, the chief financial officer now owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,937 shares of company stock valued at $113,123,232. Corporate insiders own 2.90% of the company’s stock.

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.