Brooklyn FI LLC Buys 48,091 Shares of Intuit Inc. (NASDAQ:INTU)

Brooklyn FI LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 5,137.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,027 shares of the software maker’s stock after purchasing an additional 48,091 shares during the quarter. Brooklyn FI LLC’s holdings in Intuit were worth $31,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. R Squared Ltd purchased a new stake in shares of Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC increased its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the fourth quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit during the fourth quarter worth about $29,000. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,646 shares of company stock worth $72,494,045. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several recent research reports. Scotiabank reduced their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 27th. Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Citigroup lowered their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Trading Down 0.5 %

Shares of INTU opened at $599.03 on Wednesday. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. 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 firm’s 50-day moving average price is $597.44 and its 200-day moving average price is $623.29. The firm has a market capitalization of $167.47 billion, a price-to-earnings ratio of 58.16, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 38.81%.

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.