Allspring Global Investments Holdings LLC Sells 1,571 Shares of Intuit Inc. $INTU

Allspring Global Investments Holdings LLC trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.0% during the second quarter, HoldingsChannel.com reports. The firm owned 15,820 shares of the software maker’s stock after selling 1,571 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Intuit were worth $12,333,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. Nuveen LLC purchased a new position in Intuit during the first quarter worth about $882,031,000. Nicholas Hoffman & Company LLC. purchased a new position in Intuit during the first quarter worth about $785,564,000. Price T Rowe Associates Inc. MD grew its position in Intuit by 7.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker’s stock worth $5,537,435,000 after buying an additional 649,212 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Intuit by 55.5% during the first quarter. Pictet Asset Management Holding SA now owns 1,053,197 shares of the software maker’s stock worth $646,613,000 after buying an additional 375,742 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Intuit by 6.8% during the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker’s stock worth $3,472,266,000 after buying an additional 358,328 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, Director Scott D. Cook sold 529 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $664.99, for a total value of $351,779.71. Following the completion of the sale, the director owned 6,162,547 shares in the company, valued at approximately $4,098,032,129.53. This trade represents a 0.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,170 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $677.06, for a total value of $792,160.20. Following the completion of the sale, the chief financial officer owned 1,295 shares of the company’s stock, valued at approximately $876,792.70. This trade represents a 47.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,407 shares of company stock worth $1,614,913 in the last ninety days. 2.68% of the stock is owned by company insiders.

Intuit Trading Up 2.2%

Shares of INTU stock opened at $661.39 on Friday. The stock has a market capitalization of $184.40 billion, a PE ratio of 48.14, a P/E/G ratio of 2.50 and a beta of 1.25. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The business has a 50-day moving average of $675.52 and a 200 day moving average of $694.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Intuit had a return on equity of 22.72% and a net margin of 20.55%.Intuit’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 EPS. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Thursday, October 9th were issued a dividend of $1.20 per share. The ex-dividend date was Thursday, October 9th. This represents a $4.80 annualized dividend and a yield of 0.7%. This is a boost from Intuit’s previous quarterly dividend of $1.04. Intuit’s dividend payout ratio (DPR) is currently 34.93%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. CLSA assumed coverage on Intuit in a research report on Thursday, June 26th. They set an “outperform” rating and a $900.00 target price for the company. Barclays dropped their price target on Intuit from $815.00 to $785.00 and set an “overweight” rating for the company in a research note on Friday, August 22nd. Rothschild & Co Redburn upped their price objective on Intuit from $560.00 to $670.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. JPMorgan Chase & Co. cut their price objective on Intuit from $770.00 to $750.00 and set an “overweight” rating for the company in a report on Friday, August 22nd. Finally, Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $791.82.

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.