Intuit Inc. (NASDAQ:INTU) Holdings Cut by Overbrook Management Corp

Overbrook Management Corp reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,336 shares of the software maker’s stock after selling 7,964 shares during the period. Intuit accounts for about 5.0% of Overbrook Management Corp’s investment portfolio, making the stock its 5th largest position. Overbrook Management Corp’s holdings in Intuit were worth $18,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. DiNuzzo Private Wealth Inc. acquired a new stake in Intuit in the 4th quarter worth about $25,000. MCF Advisors LLC grew its holdings in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Intuit during the fourth quarter worth approximately $38,000. Sachetta LLC acquired a new position in Intuit during the fourth quarter worth approximately $39,000. Finally, Webster Bank N. A. purchased a new position in Intuit during the fourth quarter worth approximately $41,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold 193,937 shares of company stock worth $113,123,232 in the last ninety days. 2.90% of the stock is owned by insiders.

Intuit Stock Up 2.2 %

Shares of NASDAQ INTU traded up $13.96 during midday trading on Thursday, reaching $651.44. 1,478,025 shares of the company’s stock were exchanged, compared to its average volume of 1,347,828. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. Intuit Inc. has a 52-week low of $444.19 and a 52-week high of $676.62. The business’s fifty day moving average price is $616.71 and its two-hundred day moving average price is $627.26. The stock has a market capitalization of $182.11 billion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 3.61 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same quarter last year, the firm earned $7.80 EPS. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.55%. Intuit’s dividend payout ratio is presently 33.21%.

Analyst Ratings Changes

A number of research firms have recently commented on INTU. Stifel Nicolaus dropped their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Erste Group Bank restated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $770.00 price objective on shares of Intuit in a research note on Thursday, June 13th. Morgan Stanley boosted their target price on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Susquehanna cut their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a report on Friday, May 24th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $679.41.

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.