American Trust Cuts Stake in Intuit Inc. $INTU

Key Points

• American Trust significantly reduced its holdings in Intuit Inc. by 57.3% in the first quarter, now owning 1,243 shares worth approximately $763,000.
• Several institutional investors, including Vanguard and Price T Rowe Associates, increased their positions in Intuit during the same period, indicating continued interest from major stakeholders.
• Intuit has announced an increase in its quarterly dividend from $1.04 to $1.20 per share, reflecting a commitment to returning value to shareholders.

American Trust decreased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 57.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,243 shares of the software maker's stock after selling 1,668 shares during the quarter. American Trust's holdings in Intuit were worth $763,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock valued at $16,780,536,000 after acquiring an additional 294,993 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Intuit by 7.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock worth $5,537,435,000 after purchasing an additional 649,212 shares during the last quarter. Wellington Management Group LLP increased its stake in Intuit by 6.8% during the 1st quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock valued at $3,472,266,000 after purchasing 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 worth $2,114,950,000 after buying an additional 252,265 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Intuit by 1.2% during the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after buying an additional 36,513 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INTU shares. Barclays cut their target price on Intuit from $815.00 to $785.00 and set an "overweight" rating on the stock 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 note on Monday, May 19th. CLSA started coverage on Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price objective on the stock. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $850.00 price target on shares of Intuit in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average price target of $797.62.

Intuit Stock Down 0.2%

Shares of NASDAQ INTU opened at $671.68 on Tuesday. The stock has a market cap of $187.27 billion, a PE ratio of 48.89, a P/E/G ratio of 2.60 and a beta of 1.26. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a 50-day moving average of $735.18 and a 200 day moving average of $682.05.

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

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Thursday, October 9th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. This is an increase from Intuit's previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Thursday, October 9th. Intuit's dividend payout ratio is presently 34.93%.

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares in the company, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott D. Cook sold 529 shares of Intuit stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $351,779.71. Following the transaction, the director directly owned 6,162,547 shares in the company, valued at $4,098,032,129.53. This trade represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,213 shares of company stock worth $7,115,570 over the last quarter. Corporate insiders own 2.68% of the company's stock.

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.

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.