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

Overbrook Management Corp grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,171 shares of the software maker's stock after acquiring an additional 562 shares during the quarter. Intuit accounts for approximately 3.4% of Overbrook Management Corp's investment portfolio, 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 quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Intech Investment Management LLC raised its holdings in Intuit by 9.3% in the 2nd quarter. Intech Investment Management LLC now owns 5,030 shares of the software maker's stock valued at $3,306,000 after acquiring an additional 429 shares in the last quarter. AE Wealth Management LLC increased its holdings in 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 buying an additional 3,169 shares during the period. Pacer Advisors Inc. raised its position in shares of Intuit by 12.8% in the 2nd quarter. Pacer Advisors Inc. now owns 41,621 shares of the software maker's stock valued at $27,354,000 after buying an additional 4,730 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Intuit by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker's stock valued at $9,427,000 after buying an additional 186 shares in the last quarter. Finally, Kowal Investment Group LLC bought a new stake in shares of Intuit during the 2nd quarter worth approximately $248,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INTU. Stifel Nicolaus decreased their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Piper Sandler reissued an "overweight" rating and set a $765.00 price target on shares of Intuit in a report on Friday, January 10th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley boosted their target price on Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Friday, November 22nd. Finally, StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $726.53.

Intuit Stock Down 0.5 %

NASDAQ INTU traded down $3.14 on Monday, hitting $604.13. 2,830,783 shares of the company were exchanged, compared to its average volume of 1,248,995. Intuit Inc. has a 12 month low of $557.29 and a 12 month 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 company has a market cap of $169.11 billion, a PE ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25. The stock has a fifty day moving average of $646.09 and a 200-day moving average of $636.77.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company posted $1.14 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit's dividend payout ratio (DPR) is currently 40.39%.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company's stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% 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.