17,994 Intuit Inc. $INTU Shares Bought by AIA Group Ltd

Key Points

• AIA Group increased its Intuit stake by 317.2% in the third quarter, buying 17,994 shares to hold 23,666 shares valued at about $6.5 million.
• Intuit beat quarterly earnings and revenue estimates, reporting EPS of $4.03 and revenue of $4.35 billion; revenue grew 13.7% year over year. The company also raised its quarterly dividend from $1.20 to $1.38 per share.
• Analyst views were mixed: the consensus rating was “Hold,” with a $431.55 average price target. Sixteen analysts rated the stock Buy, 13 Hold and two Sell.

AIA Group Ltd grew its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 317.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,666 shares of the software maker's stock after purchasing an additional 17,994 shares during the quarter. AIA Group Ltd's holdings in Intuit were worth $6,525,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of INTU. XXEC Inc. bought a new position in Intuit during the second quarter worth $436,740,000. BlackRock Inc. acquired a new position in Intuit during the 2nd quarter valued at about $6,851,859,000. Corient Private Wealth LP acquired a new position in Intuit during the second quarter worth about $40,545,000. Arrowstreet Capital Limited Partnership lifted 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 valued at $1,684,795,000 after acquiring an additional 1,972,719 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 valued at $870,260,000 after purchasing an additional 215,814 shares during the period. Institutional investors own 83.66% of the company's stock.

Intuit Stock Up 3.5%

Shares of INTU stock opened at $356.64 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a fifty day moving average price of $318.56 and a 200 day moving average price of $359.02. The stock has a market cap of $95.31 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91. Intuit Inc. has a one year low of $252.84 and a one year high of $682.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.45. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.27 billion. Intuit had a return on equity of 25.97% and a net margin of 21.29%. The business's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.75 earnings per share. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Analysts predict that Intuit Inc. will post 23.02 earnings per share for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Thursday, October 8th were paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Intuit's previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Thursday, October 8th. Intuit's payout ratio is presently 33.45%.

Insider Activity

In related news, CAO Lauren Hotz sold 907 shares of Intuit stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total transaction of $314,311.78. Following the transaction, the chief accounting officer owned 1,628 shares of the company's stock, valued at $564,167.12. This trade represents a 35.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Dalzell sold 285 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total transaction of $92,727.60. Following the completion of the sale, the director owned 11,531 shares of the company's stock, valued at approximately $3,751,726.16. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. TD Cowen reissued a "hold" rating and set a $346.00 price objective on shares of Intuit in a research report on Friday, September 18th. Susquehanna cut their target price on shares of Intuit from $427.00 to $415.00 and set a "positive" rating for the company in a research report on Wednesday, August 26th. Stifel Nicolaus restated a "hold" rating and set a $300.00 price target on shares of Intuit in a report on Friday, September 18th. BMO Capital Markets reiterated an "outperform" rating on shares of Intuit in a research note on Monday, September 21st. Finally, Jefferies Financial Group cut their price objective on Intuit from $550.00 to $500.00 and set a "buy" rating for the company in a research report on Sunday, August 23rd. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $431.55.

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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