Intuit Inc. $INTU Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Intuit Inc. by 15.1%, selling 41,407 shares during the first quarter, leaving them with approximately 231,929 shares valued at $142.4 million.
• Intuit has announced a quarterly dividend increase from $1.04 to $1.20, with an annualized yield of 0.7%, payable on October 17, 2023.
• Analysts' ratings for Intuit show a consensus target price of $797.62 and an average rating of "Moderate Buy," with one Strong Buy, twenty Buy, three Hold, and one Sell rating given by equities analysts.

Acadian Asset Management LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,929 shares of the software maker's stock after selling 41,407 shares during the period. Acadian Asset Management LLC owned 0.08% of Intuit worth $142,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Brighton Jones LLC grew its position in shares of Intuit by 61.3% in the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after purchasing an additional 1,350 shares during the period. Revolve Wealth Partners LLC grew 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 valued at $511,000 after purchasing an additional 482 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Intuit by 14.2% in 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 during the period. Graham Capital Management L.P. grew its position in shares of Intuit by 15.0% in the fourth quarter. Graham Capital Management L.P. now owns 1,150 shares of the software maker's stock valued at $723,000 after purchasing an additional 150 shares during the period. Finally, LRI Investments LLC grew its position in shares of Intuit by 9.1% in the fourth quarter. LRI Investments LLC now owns 513 shares of the software maker's stock valued at $322,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Up 0.6%

Shares of NASDAQ INTU traded up $4.26 on Thursday, hitting $660.52. The company had a trading volume of 2,200,236 shares, compared to its average volume of 2,105,275. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The business has a 50 day moving average of $728.22 and a two-hundred day moving average of $682.44. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $184.15 billion, a P/E ratio of 48.07, a PEG ratio of 2.53 and a beta of 1.26.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the firm posted $1.99 earnings per share. The company's revenue was up 20.3% compared to the same quarter last year. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Thursday, October 9th will be 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 is Thursday, October 9th. Intuit's payout ratio is presently 30.28%.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the transaction, the chief accounting officer owned 455 shares in the company, valued at approximately $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 882 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,879 shares of company stock valued at $7,558,613. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on INTU shares. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Bank of America lowered their price objective on Intuit from $875.00 to $800.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. The Goldman Sachs Group boosted their price target on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Stifel Nicolaus lowered their price target on Intuit from $850.00 to $800.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Intuit from $770.00 to $750.00 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 have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $797.62.

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.