Intuit Inc. (NASDAQ:INTU) Position Increased by Overbrook Management Corp

Overbrook Management Corp grew its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 37.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,300 shares of the software maker's stock after acquiring an additional 9,857 shares during the period. Intuit comprises 4.6% of Overbrook Management Corp's portfolio, making the stock its 7th largest holding. Overbrook Management Corp's holdings in Intuit were worth $22,689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Motley Fool Asset Management LLC boosted its holdings in Intuit by 7.1% during the fourth quarter. Motley Fool Asset Management LLC now owns 7,708 shares of the software maker's stock worth $4,818,000 after buying an additional 510 shares in the last quarter. New Jersey Better Educational Savings Trust acquired a new position in Intuit during the fourth quarter worth about $238,000. Bank Julius Baer & Co. Ltd Zurich raised its position in Intuit by 2.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 193,655 shares of the software maker's stock worth $121,040,000 after acquiring an additional 3,944 shares during the last quarter. VCI Wealth Management LLC acquired a new position in Intuit during the fourth quarter worth about $776,000. Finally, Abbrea Capital LLC raised its position in Intuit by 2.8% during the fourth quarter. Abbrea Capital LLC now owns 1,094 shares of the software maker's stock worth $684,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of a number of research reports. Oppenheimer lifted their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a "neutral" rating in a research report on Friday, February 23rd. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday. Piper Sandler boosted their price objective on shares of Intuit from $642.00 to $750.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $650.23.

Intuit Trading Down 1.4 %

INTU traded down $9.10 during trading on Thursday, hitting $626.39. 1,241,615 shares of the company's stock were exchanged, compared to its average volume of 1,250,544. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The stock has a 50 day moving average price of $640.64 and a 200 day moving average price of $602.03. The firm has a market cap of $175.39 billion, a P/E ratio of 63.92, a price-to-earnings-growth ratio of 3.84 and a beta of 1.21.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Intuit's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit's dividend payout ratio (DPR) is presently 36.73%.

Insider Activity

In other news, EVP Alex G. Balazs sold 280 shares of the company's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of the company's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company's stock, valued at $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the company's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

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.

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