1832 Asset Management L.P. Has $9.23 Million Stock Holdings in Intuit Inc. $INTU

Key Points

• 1832 Asset Management L.P. reduced its stake in Intuit Inc. by 61.3% during the first quarter, now holding 15,026 shares valued at $9,226,000.
• Insiders at Intuit have recently sold a significant amount of stock, with EVP Kerry J. Mclean and CFO Sandeep Aujla selling 16,700 and 16,061 shares, respectively.
• Intuit reported a revenue increase of 20.3% year-over-year for its latest quarter, with earnings per share (EPS) of $2.75, exceeding analyst expectations.

1832 Asset Management L.P. trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 61.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,026 shares of the software maker's stock after selling 23,777 shares during the quarter. 1832 Asset Management L.P.'s holdings in Intuit were worth $9,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. Brighton Jones LLC raised its position in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after buying an additional 1,350 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after acquiring an additional 482 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in Intuit by 14.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after purchasing an additional 248 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Intuit by 60.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 2,964 shares of the software maker's stock valued at $1,863,000 after purchasing an additional 1,113 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Intuit by 18.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 45,013 shares of the software maker's stock valued at $28,291,000 after purchasing an additional 6,867 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on INTU. Citigroup decreased their target price on shares of Intuit from $815.00 to $803.00 and set a "buy" rating for the company in a research report on Friday. Barclays decreased their target price on shares of Intuit from $815.00 to $785.00 and set an "overweight" rating for the company in a research report on Friday. Morgan Stanley decreased their target price on shares of Intuit from $900.00 to $880.00 and set an "overweight" rating for the company in a research report on Friday. CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price for the company. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $850.00 price objective on shares of Intuit in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $797.62.

Intuit Stock Performance

Intuit stock traded up $2.58 on Tuesday, hitting $659.54. The company's stock had a trading volume of 3,762,506 shares, compared to its average volume of 2,044,962. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The company has a fifty day moving average price of $752.75 and a 200-day moving average price of $675.97. The company has a quick ratio of 1.45, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The firm has a market cap of $183.98 billion, a P/E ratio of 48.00, a price-to-earnings-growth ratio of 2.57 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The company's revenue 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. On average, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Thursday, October 9th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, October 9th. This is a boost from Intuit's previous quarterly dividend of $1.04. Intuit's dividend payout ratio is currently 30.28%.

Insider Activity at Intuit

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares in the company, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 62,816 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the transaction, the insider owned 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 149,650 shares of company stock worth $113,959,883. Insiders own 2.68% of the company's stock.

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.