Balboa Wealth Partners Purchases New Position in Intuit Inc. $INTU

Balboa Wealth Partners acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the second quarter, Holdings Channel.com reports. The firm acquired 297 shares of the software maker’s stock, valued at approximately $234,000.

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

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 1,170 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $677.06, for a total transaction of $792,160.20. Following the completion of the transaction, the chief financial officer directly owned 1,295 shares in the company, valued at approximately $876,792.70. The trade was a 47.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott D. Cook sold 529 shares of the company’s 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 of the company’s stock, valued at $4,098,032,129.53. This trade represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,407 shares of company stock worth $1,614,913. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intuit in a research note on Wednesday, October 8th. BMO Capital Markets increased their price objective on Intuit from $820.00 to $870.00 and gave the company an “outperform” rating in a report on Thursday, July 10th. Oppenheimer increased their price objective on Intuit from $742.00 to $868.00 and gave the company an “outperform” rating in a report on Monday, July 28th. UBS Group dropped their price target on Intuit from $750.00 to $725.00 and set a “neutral” rating on the stock in a research note on Friday, August 22nd. Finally, Morgan Stanley decreased their price objective on Intuit from $900.00 to $880.00 and set an “overweight” rating for the company in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $791.82.

Intuit Stock Performance

NASDAQ INTU opened at $675.04 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. The business has a 50 day moving average price of $673.93 and a 200 day moving average price of $696.36. The company has a market capitalization of $188.20 billion, a P/E ratio of 49.13, a PEG ratio of 2.57 and a beta of 1.25. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70.

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

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Thursday, October 9th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. This is a positive change from Intuit’s previous quarterly dividend of $1.04. The ex-dividend date was Thursday, October 9th. Intuit’s payout ratio is presently 34.93%.

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.