Rakuten Investment Management Inc. raised its position in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,825 shares of the software maker’s stock after purchasing an additional 6,429 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Intuit were worth $19,519,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Intuit during the second quarter worth $6,851,859,000. Arrowstreet Capital Limited Partnership grew its position in shares of Intuit by 102.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock worth $1,684,795,000 after buying an additional 1,972,719 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Intuit by 6.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,334,328 shares of the software maker’s stock worth $870,260,000 after buying an additional 215,814 shares during the period. Unisphere Establishment boosted its position in Intuit by 6.5% during the 1st quarter. Unisphere Establishment now owns 1,810,000 shares of the software maker’s stock worth $782,608,000 after acquiring an additional 110,000 shares during the last quarter. Finally, Amundi raised its stake in shares of Intuit by 44.9% during the 1st quarter. Amundi now owns 1,563,158 shares of the software maker’s stock worth $675,878,000 after purchasing an additional 484,602 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, Director Richard Dalzell sold 285 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total value of $92,727.60. Following the completion of the transaction, the director directly owned 11,531 shares in the company, valued at approximately $3,751,726.16. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the sale, the chief accounting officer directly owned 1,628 shares in the company, valued at approximately $564,167.12. The trade was a 35.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.49% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on INTU shares. Weiss Ratings upgraded shares of Intuit from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. Barclays cut their price target on Intuit from $443.00 to $408.00 and set an “overweight” rating on the stock in a report on Wednesday, August 26th. Wells Fargo & Company dropped their price target on shares of Intuit from $360.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on Intuit from $530.00 to $425.00 and set a “buy” rating for the company in a report on Wednesday, August 19th. Finally, Susquehanna decreased their price target on shares of Intuit from $427.00 to $415.00 and set a “positive” rating on the stock in a report on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $431.55.
View Our Latest Stock Report on Intuit
Intuit Trading Up 3.5%
Shares of INTU stock opened at $356.64 on Thursday. The firm has a market capitalization of $95.31 billion, a PE ratio of 21.61, a PEG ratio of 1.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.51 and a current ratio of 1.51. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $682.27. The stock has a fifty day simple moving average of $318.56 and a two-hundred day simple moving average of $359.02.
Intuit (NASDAQ:INTU – Get Free Report) last released its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the firm earned $2.75 earnings per share. Intuit’s revenue was up 13.7% on a year-over-year basis. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. On average, analysts predict that Intuit Inc. will post 23.02 EPS for the current fiscal year.
Intuit Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Thursday, October 8th were paid a dividend of $1.38 per share. This is a boost from Intuit’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $5.52 annualized dividend and a yield of 1.5%. Intuit’s dividend payout ratio is presently 33.45%.
About Intuit
Intuit Inc is a global financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, taxes and marketing. Its ecosystem combines financial management, tax preparation, accounting, payments and customer relationship tools.
The company’s principal products include TurboTax for tax preparation, QuickBooks for accounting, invoicing, payroll and payments, Credit Karma for personal financial services, and Mailchimp for marketing automation and customer engagement.
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