Overbrook Management Corp Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Overbrook Management Corp raised its position in Intuit Inc. (NASDAQ:INTU) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 25,171 shares of the software maker’s stock after purchasing an additional 562 shares during the period. Intuit comprises 3.4% of Overbrook Management Corp’s holdings, making the stock its 11th biggest position. Overbrook Management Corp’s holdings in Intuit were worth $15,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Intech Investment Management LLC grew its holdings in shares of Intuit by 9.3% in the second quarter. Intech Investment Management LLC now owns 5,030 shares of the software maker’s stock valued at $3,306,000 after purchasing an additional 429 shares during the period. AE Wealth Management LLC lifted its stake in shares of Intuit by 57.0% in the 2nd quarter. AE Wealth Management LLC now owns 8,726 shares of the software maker’s stock valued at $5,735,000 after purchasing an additional 3,169 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Intuit by 12.8% during the 2nd quarter. Pacer Advisors Inc. now owns 41,621 shares of the software maker’s stock worth $27,354,000 after purchasing an additional 4,730 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Intuit by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock worth $9,427,000 after buying an additional 186 shares during the period. Finally, Kowal Investment Group LLC purchased a new stake in shares of Intuit in the 2nd quarter valued at approximately $248,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on INTU shares. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $657.64, for a total value of $5,063,828.00. Following the transaction, the executive vice president now owns 33,916 shares in the company, valued at $22,304,518.24. The trade was a 18.50 % 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 worth $188,992,187 in the last three months. Insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

Shares of Intuit stock opened at $604.13 on Monday. The company’s fifty day moving average is $646.09 and its two-hundred day moving average is $636.93. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25.

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

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio 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.