Overbrook Management Corp Purchases 562 Shares of Intuit Inc. (NASDAQ:INTU)

Overbrook Management Corp increased its holdings in Intuit Inc. (NASDAQ:INTU) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,171 shares of the software maker’s stock after purchasing an additional 562 shares during the period. Intuit makes up about 3.4% of Overbrook Management Corp’s investment portfolio, making the stock its 11th largest position. Overbrook Management Corp’s holdings in Intuit were worth $15,820,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of INTU. Brown Financial Advisors increased its position in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the last quarter. Truvestments Capital LLC lifted its position in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the last quarter. Aviso Wealth Management boosted its stake in shares of Intuit by 4.9% during the second quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock valued at $238,000 after purchasing an additional 17 shares during the period. CVA Family Office LLC grew its holdings in shares of Intuit by 3.3% in the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after purchasing an additional 17 shares during the last quarter. Finally, Chris Bulman Inc increased its stake in Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.5 %

Intuit stock opened at $604.13 on Monday. 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 has a market cap of $169.11 billion, a PE ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. The stock’s 50 day simple moving average is $646.09 and its two-hundred day simple moving average is $636.93. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

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

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. 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. Finally, Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

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.