Overbrook Management Corp Sells 3,037 Shares of Intuit Inc. (NASDAQ:INTU)

Overbrook Management Corp decreased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,134 shares of the software maker's stock after selling 3,037 shares during the quarter. Intuit makes up approximately 3.2% of Overbrook Management Corp's portfolio, making the stock its 12th largest holding. Overbrook Management Corp's holdings in Intuit were worth $13,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Intuit in the fourth quarter worth $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter worth $28,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Intuit in the fourth quarter worth $35,000. Institutional investors own 83.66% of the company's stock.

Intuit Stock Up 0.5%

Shares of NASDAQ INTU opened at $776.57 on Friday. The stock has a market cap of $216.62 billion, a PE ratio of 63.03, a PEG ratio of 3.44 and a beta of 1.28. The business has a fifty day moving average of $700.54 and a two-hundred day moving average of $638.60. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $787.22. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.88 EPS. As a group, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit's dividend payout ratio (DPR) is 33.77%.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president now owns 23,101 shares in the company, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,896 shares of company stock worth $204,351,942 in the last 90 days. Corporate insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several research analyst reports. Evercore ISI raised their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. BMO Capital Markets reiterated an "outperform" rating and set a $820.00 price target (up previously from $714.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Susquehanna reiterated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $793.05.

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.

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