Alta Capital Management LLC Cuts Stock Holdings in Intuit Inc. $INTU

Key Points

• Alta Capital Management trimmed its Intuit stake by 14.5% in the fourth quarter, selling 7,907 shares and leaving it with 46,681 shares valued at about $30.9 million.
• Several large institutional investors, including Vanguard, State Street, and Invesco, increased their positions, and institutional ownership of Intuit remains high at 83.66%.
• Analysts have cut price targets but mostly remain bullish; Intuit currently carries a Moderate Buy rating with an average target of $634.26, while the company recently beat earnings and revenue estimates and pays a quarterly dividend of $1.20 per share.

Alta Capital Management LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,681 shares of the software maker's stock after selling 7,907 shares during the period. Intuit comprises 2.1% of Alta Capital Management LLC's holdings, making the stock its 18th largest position. Alta Capital Management LLC's holdings in Intuit were worth $30,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in Intuit by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker's stock worth $19,156,152,000 after purchasing an additional 296,448 shares during the last quarter. State Street Corp raised its stake in shares of Intuit by 1.2% during the 3rd quarter. State Street Corp now owns 12,882,779 shares of the software maker's stock valued at $8,797,779,000 after purchasing an additional 158,456 shares during the period. Invesco Ltd. raised its stake in shares of Intuit by 7.8% during the 3rd quarter. Invesco Ltd. now owns 3,757,171 shares of the software maker's stock valued at $2,565,810,000 after purchasing an additional 271,407 shares during the period. Northern Trust Corp raised its stake in shares of Intuit by 4.8% during the 3rd quarter. Northern Trust Corp now owns 3,450,001 shares of the software maker's stock valued at $2,356,040,000 after purchasing an additional 158,843 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Intuit by 183.8% during the 3rd quarter. Alliancebernstein L.P. now owns 1,999,737 shares of the software maker's stock valued at $1,365,640,000 after purchasing an additional 1,295,199 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on INTU shares. Stifel Nicolaus decreased their price objective on Intuit from $800.00 to $500.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. KeyCorp decreased their price objective on Intuit from $750.00 to $520.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Barclays restated an "overweight" rating and issued a $540.00 target price on shares of Intuit in a research note on Monday, March 16th. Royal Bank Of Canada decreased their target price on Intuit from $850.00 to $600.00 and set an "outperform" rating on the stock in a research note on Friday, February 27th. Finally, Argus decreased their target price on Intuit from $780.00 to $580.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average price target of $634.26.

Insiders Place Their Bets

In related news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $440.40, for a total transaction of $146,653.20. Following the completion of the sale, the director directly owned 13,253 shares in the company, valued at $5,836,621.20. This represents a 2.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.49% of the stock is owned by corporate insiders.

Intuit Price Performance

INTU opened at $403.16 on Tuesday. The stock has a 50-day moving average price of $412.33 and a 200-day moving average price of $518.12. Intuit Inc. has a 12-month low of $342.11 and a 12-month high of $813.70. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $111.49 billion, a P/E ratio of 26.11, a PEG ratio of 1.58 and a beta of 1.04.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The software maker reported $4.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.68 by $0.47. Intuit had a return on equity of 24.23% and a net margin of 21.57%.The firm had revenue of $4.65 billion during the quarter, compared to analysts' expectations of $4.53 billion. During the same period in the prior year, the business earned $3.32 EPS. The company's revenue for the quarter was up 17.4% compared to the same quarter last year. Intuit has set its Q3 2026 guidance at 12.450-12.510 EPS and its FY 2026 guidance at 22.980-23.180 EPS. Equities analysts predict that Intuit Inc. will post 17.44 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Thursday, April 9th were issued a dividend of $1.20 per share. The ex-dividend date was Thursday, April 9th. This represents a $4.80 annualized dividend and a yield of 1.2%. Intuit's dividend payout ratio is currently 31.09%.

Intuit Profile

Intuit Inc NASDAQ: INTU is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit's product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

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