8,498 Intuit Inc. $INTU Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its Intuit stake by 26.4% in the third quarter, adding 8,498 shares to reach 40,700 shares valued at about $11.2 million.
• Institutional investors and hedge funds own 83.66% of Intuit shares. Two company insiders also reported stock sales during the period.
• Intuit beat quarterly earnings and revenue estimates, with revenue up 13.7% year over year, and raised its quarterly dividend from $1.20 to $1.38 per share.

Ethic Inc. increased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 26.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,700 shares of the software maker's stock after buying an additional 8,498 shares during the period. Ethic Inc.'s holdings in Intuit were worth $11,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. StoneX Group Inc. raised its stake in Intuit by 210.8% in the third quarter. StoneX Group Inc. now owns 2,533 shares of the software maker's stock valued at $698,000 after purchasing an additional 1,718 shares in the last quarter. Balentine LLC grew its stake in Intuit by 19.5% during the third quarter. Balentine LLC now owns 2,493 shares of the software maker's stock worth $687,000 after buying an additional 406 shares in the last quarter. Plancorp LLC acquired a new stake in Intuit during the third quarter worth about $171,000. Alps Advisors Inc. grew its stake in Intuit by 113.5% during the third quarter. Alps Advisors Inc. now owns 16,974 shares of the software maker's stock worth $4,680,000 after buying an additional 9,023 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in Intuit by 4.5% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,716 shares of the software maker's stock worth $749,000 after buying an additional 118 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, Director Richard Dalzell sold 285 shares of the stock in a transaction dated 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 trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of Intuit stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $346.54, for a total value of $314,311.78. Following the sale, the chief accounting officer directly owned 1,628 shares in the company, valued at $564,167.12. The trade was a 35.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.49% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $341.50 on Monday. The company's 50 day moving average price is $318.61 and its two-hundred day moving average price is $357.13. The firm has a market capitalization of $91.26 billion, a P/E ratio of 20.70, a P/E/G ratio of 1.13 and a beta of 0.91. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $682.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results 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. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the business earned $2.75 earnings per share. The company's revenue for the quarter was up 13.7% compared to the same quarter last year. 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, equities analysts forecast that Intuit Inc. will post 23.02 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Thursday, October 8th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Thursday, October 8th. This is a boost from Intuit's previous quarterly dividend of $1.20. Intuit's payout ratio is currently 33.45%.

Analysts Set New Price Targets

Several equities analysts have recently commented on INTU shares. Truist Financial restated a "hold" rating and issued a $300.00 target price on shares of Intuit in a research report on Friday, September 18th. Piper Sandler increased their price target on shares of Intuit from $250.00 to $290.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 26th. The Goldman Sachs Group reissued a "sell" rating on shares of Intuit in a research note on Thursday, September 24th. TD Cowen reissued a "hold" rating and issued a $346.00 price objective on shares of Intuit in a research note on Friday, September 18th. Finally, Wolfe Research downgraded shares of Intuit from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $431.55.

Intuit Company Profile

Intuit Inc develops financial management and business software for consumers, small businesses, and accounting professionals. Its products and services help users manage personal finances, prepare taxes, run businesses, handle payments, and support marketing activities.

Its offerings include TurboTax for tax preparation, QuickBooks for accounting and business management, Credit Karma for personal finance, and Mailchimp for email marketing and customer engagement. Intuit serves customers in the United States and other markets around the world.

Founded in 1983 by Scott Cook and Tom Proulx, Intuit is headquartered in Mountain View, California.

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