Alliancebernstein L.P. Sells 59,155 Shares of Intuit Inc. $INTU

Key Points

• Alliancebernstein L.P. has reduced its position in Intuit Inc. by 7.4%, now owning 736,979 shares valued at approximately $452.5 million.
• Intuit's recent earnings report exceeded expectations, with $2.75 earnings per share and revenue of $3.83 billion, reflecting a year-over-year increase of 20.3%.
• The company has announced a dividend increase, with a new quarterly dividend of $1.20 per share, boosting the annualized yield to 0.7%.

Alliancebernstein L.P. lowered its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 736,979 shares of the software maker's stock after selling 59,155 shares during the quarter. Alliancebernstein L.P. owned about 0.26% of Intuit worth $452,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management purchased a new stake in shares of Intuit during the fourth quarter worth about $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. TD Capital Management LLC grew its position in shares of Intuit by 511.1% during the first quarter. TD Capital Management LLC now owns 55 shares of the software maker's stock worth $34,000 after purchasing an additional 46 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Intuit during the first quarter worth about $37,000. Finally, Activest Wealth Management grew its position in shares of Intuit by 3,050.0% during the first quarter. Activest Wealth Management now owns 63 shares of the software maker's stock worth $39,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity

In related news, Director Scott D. Cook sold 529 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $351,779.71. Following the completion of the sale, the director directly owned 6,162,547 shares of the company's stock, valued at approximately $4,098,032,129.53. This trade represents a 0.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 42 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $664.99, for a total value of $27,929.58. Following the sale, the chief financial officer directly owned 831 shares of the company's stock, valued at $552,606.69. This represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,029 shares of company stock worth $55,231,998 in the last three months. Corporate insiders own 2.68% of the company's stock.

Intuit Trading Up 0.7%

Shares of Intuit stock traded up $4.53 on Friday, reaching $672.82. The company had a trading volume of 1,614,052 shares, compared to its average volume of 2,175,109. The firm has a market cap of $187.58 billion, a price-to-earnings ratio of 48.97, a P/E/G ratio of 2.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.45. The firm's 50-day moving average price is $737.50 and its two-hundred day moving average price is $680.60. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. The firm had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.75 billion. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The company's quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.99 EPS. 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, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be issued a $1.20 dividend. This is a positive change from Intuit's previous quarterly dividend of $1.04. The ex-dividend date is Thursday, October 9th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 0.7%. Intuit's dividend payout ratio (DPR) is presently 30.28%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 target price on shares of Intuit in a research report on Tuesday, September 2nd. Bank of America cut their target price on Intuit from $875.00 to $800.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. CLSA began coverage on Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target for the company. Finally, Jefferies Financial Group set a $850.00 price target on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $797.62.

Intuit 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.