Brooklyn Investment Group Raises Holdings in Intuit Inc. $INTU

Key Points

• Brooklyn Investment Group has increased its holdings in Intuit Inc. by 19.5% during the first quarter, now owning 2,610 shares valued at approximately $1.6 million.
• Several hedge funds have also raised their stakes in Intuit, with 83.66% of the stock owned by institutional investors.
• Intuit reported a quarterly earnings per share (EPS) of $11.65, surpassing analysts' expectations and indicating a 15.1% revenue growth year-over-year.

Brooklyn Investment Group increased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 19.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,610 shares of the software maker's stock after buying an additional 425 shares during the quarter. Brooklyn Investment Group's holdings in Intuit were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. increased its position in shares of Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after acquiring an additional 18 shares during the last quarter. Chris Bulman Inc increased its holdings in Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after buying an additional 18 shares during the last quarter. Kolinsky Wealth Management LLC increased its holdings in Intuit by 1.6% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after buying an additional 19 shares during the last quarter. Norden Group LLC grew its holdings in shares of Intuit by 1.2% during the first quarter. Norden Group LLC now owns 1,663 shares of the software maker's stock valued at $1,021,000 after purchasing an additional 19 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Intuit by 2.6% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 791 shares of the software maker's stock valued at $486,000 after purchasing an additional 20 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTU has been the subject of a number of recent analyst reports. CLSA initiated coverage on Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price objective for the company. Wells Fargo & Company set a $880.00 target price on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Oppenheimer increased their price objective on Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Bank of America increased their target price on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $809.86.

Intuit Trading Up 0.9%

Intuit stock opened at $716.74 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The company's fifty day moving average price is $763.75 and its two-hundred day moving average price is $672.00. The company has a market capitalization of $199.93 billion, a price-to-earnings ratio of 58.18, a PEG ratio of 2.76 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the company earned $9.88 earnings per share. The business's quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the transaction, the executive vice president owned 19 shares in the company, valued at $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,738 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the transaction, the chief accounting officer owned 455 shares of the company's stock, valued at approximately $356,760.95. This represents a 79.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 in the last quarter. 2.68% of the stock is currently owned by insiders.

About Intuit

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.

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