Brookstone Capital Management Acquires 629 Shares of Intuit Inc. (INTU)

Brookstone Capital Management lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 52.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,823 shares of the software maker’s stock after acquiring an additional 629 shares during the period. Brookstone Capital Management’s holdings in Intuit were worth $372,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Massey Quick Simon & CO. LLC grew its position in Intuit by 100.0% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 750 shares of the software maker’s stock worth $130,000 after purchasing an additional 375 shares in the last quarter. NewSquare Capital LLC bought a new stake in Intuit in the 2nd quarter worth about $185,000. Cerebellum GP LLC bought a new stake in Intuit in the 2nd quarter worth about $176,000. Resources Investment Advisors Inc. grew its position in Intuit by 158.9% in the 1st quarter. Resources Investment Advisors Inc. now owns 906 shares of the software maker’s stock worth $174,000 after purchasing an additional 556 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in Intuit in the 2nd quarter worth about $200,000. 87.11% of the stock is owned by institutional investors.

In other news, insider Scott D. Cook sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $209.41, for a total transaction of $20,941,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Henry Tayloe Stansbury sold 7,882 shares of the stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $196.49, for a total transaction of $1,548,734.18. Following the transaction, the executive vice president now directly owns 5,334 shares of the company’s stock, valued at $1,048,077.66. The disclosure for this sale can be found here. Insiders have sold a total of 321,277 shares of company stock valued at $65,648,052 over the last three months. Insiders own 5.59% of the company’s stock.

A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 19th. Zacks Investment Research downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Argus upped their price objective on shares of Intuit from $225.00 to $250.00 in a research report on Tuesday, July 24th. Stifel Nicolaus raised shares of Intuit from a “hold” rating to a “buy” rating and upped their price objective for the stock from $197.00 to $240.00 in a research report on Monday, June 18th. Finally, Guggenheim assumed coverage on shares of Intuit in a research report on Tuesday, August 7th. They issued a “buy” rating and a $250.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $200.22.

Intuit stock opened at $209.57 on Tuesday. Intuit Inc. has a twelve month low of $133.60 and a twelve month high of $219.46. The company has a market cap of $54.14 billion, a PE ratio of 55.59, a P/E/G ratio of 2.47 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.

Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, May 22nd. The software maker reported $4.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.68 by $0.14. Intuit had a net margin of 20.39% and a return on equity of 79.36%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm earned $3.90 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. equities analysts expect that Intuit Inc. will post 4.45 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 18th. Stockholders of record on Tuesday, July 10th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Monday, July 9th. Intuit’s dividend payout ratio is currently 41.38%.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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