Overbrook Management Corp Sells 7,964 Shares of Intuit Inc. (NASDAQ:INTU)

Overbrook Management Corp cut its stake in Intuit Inc. (NASDAQ:INTU) by 21.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,336 shares of the software maker’s stock after selling 7,964 shares during the period. Intuit makes up about 5.0% of Overbrook Management Corp’s portfolio, making the stock its 5th biggest holding. Overbrook Management Corp’s holdings in Intuit were worth $18,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Desjardins Global Asset Management Inc. lifted its stake in Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after buying an additional 16 shares in the last quarter. GAM Holding AG grew its position in Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the sale, the insider now directly owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The disclosure for this sale can be found here. In the last three months, insiders sold 193,937 shares of company stock worth $113,123,232. 2.90% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of Intuit stock traded up $13.96 on Thursday, reaching $651.44. The stock had a trading volume of 1,478,025 shares, compared to its average volume of 1,347,828. The business’s 50 day moving average is $616.71 and its two-hundred day moving average is $627.26. The company has a market cap of $182.11 billion, a P/E ratio of 60.08, a price-to-earnings-growth ratio of 3.61 and a beta of 1.21. Intuit Inc. has a 1 year low of $444.19 and a 1 year high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

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

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

Analyst Ratings Changes

INTU has been the subject of a number of recent research reports. Morgan Stanley upped 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. Bank of America dropped their price objective on shares of Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a report on Friday, May 24th. Jefferies Financial Group reissued a “buy” rating and set a $770.00 target price on shares of Intuit in a report on Thursday, June 13th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Finally, Piper Sandler boosted their price objective on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $679.41.

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.