Addenda Capital Inc. Reduces Stock Holdings in Intuit Inc. $INTU

Key Points

• Addenda Capital Inc. has reduced its stake in Intuit Inc. by 5.9%, holding 23,751 shares worth approximately $18.7 million after selling 1,497 shares during the second quarter.
• Intuit recently announced an increase in its quarterly dividend to $1.20 per share, up from the previous $1.04, reflecting a growing commitment to returning value to shareholders.
• Intuit beat earnings expectations with a reported $2.75 EPS for the last quarter, surpassing analyst estimates by 0.09 and showing a 20.3% revenue increase compared to the same quarter last year.

Addenda Capital Inc. decreased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,751 shares of the software maker's stock after selling 1,497 shares during the quarter. Addenda Capital Inc.'s holdings in Intuit were worth $18,707,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock worth $16,780,536,000 after buying an additional 294,993 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Intuit by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock valued at $5,537,435,000 after acquiring an additional 649,212 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Intuit by 6.8% in the 1st quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock worth $3,472,266,000 after buying an additional 358,328 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after buying an additional 252,265 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Intuit by 1.2% in the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after buying an additional 36,513 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

INTU opened at $698.26 on Friday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The company has a market cap of $194.67 billion, a price-to-earnings ratio of 50.82, a PEG ratio of 2.69 and a beta of 1.26. The firm's fifty day simple moving average is $710.05 and its two-hundred day simple moving average is $689.09. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30.

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

Intuit Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on INTU. BMO Capital Markets lifted their target price on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. reduced their price objective on Intuit from $770.00 to $750.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. Stifel Nicolaus reduced their price objective on Intuit from $850.00 to $800.00 and set a "buy" rating for the company in a report on Friday, August 22nd. UBS Group lowered their price objective on shares of Intuit from $750.00 to $725.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. Finally, CLSA began coverage on shares of Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $791.82.

Insider Transactions at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $661.15, for a total transaction of $220,162.95. Following the transaction, the director directly owned 14,475 shares of the company's stock, valued at approximately $9,570,146.25. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the transaction, the executive vice president directly owned 19 shares in the company, valued at approximately $14,704.10. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,141 shares of company stock valued at $6,195,865 over the last three months. 2.68% of the stock is currently owned by company insiders.

Intuit Company Profile

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.

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.