Apollon Wealth Management LLC Acquires 3,506 Shares of Intuit Inc. $INTU

Key Points

• Apollon Wealth Management increased its Intuit stake by 15.6% in the third quarter, acquiring 3,506 shares and bringing its holdings to 25,953 shares valued at approximately $7.2 million. Institutional investors collectively own 83.66% of Intuit.
• Analyst sentiment remains mixed: Intuit has an average “Hold” rating and a consensus price target of $431.55, despite several firms lowering their targets while maintaining Buy or Outperform ratings.
• Intuit reported quarterly results above expectations, with $4.03 in EPS and $4.35 billion in revenue, while revenue grew 13.7% year over year. The company also raised its quarterly dividend to $1.38 per share, or $5.52 annually.

Apollon Wealth Management LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 15.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,953 shares of the software maker's stock after acquiring an additional 3,506 shares during the quarter. Apollon Wealth Management LLC's holdings in Intuit were worth $7,155,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Janney Montgomery Scott LLC increased its position in shares of Intuit by 119.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker's stock valued at $37,452,000 after purchasing an additional 47,148 shares during the period. Beacon Pointe Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter worth $1,643,000. J. Safra Sarasin Holding AG raised its stake in shares of Intuit by 831.4% in the 1st quarter. J. Safra Sarasin Holding AG now owns 27,337 shares of the software maker's stock worth $11,817,000 after buying an additional 24,402 shares in the last quarter. Lindsell Train Ltd lifted its holdings in shares of Intuit by 20.2% in the first quarter. Lindsell Train Ltd now owns 733,699 shares of the software maker's stock valued at $317,237,000 after buying an additional 123,448 shares during the period. Finally, Cygnus Capital Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at $4,706,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In related news, Director Richard Dalzell sold 285 shares of Intuit stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total transaction of $92,727.60. Following the completion of the sale, the director owned 11,531 shares of the company's stock, valued at approximately $3,751,726.16. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the transaction, the chief accounting officer owned 1,628 shares in the company, valued at $564,167.12. This trade represents a 35.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.49% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on INTU shares. Deutsche Bank Aktiengesellschaft decreased their target price on Intuit from $530.00 to $425.00 and set a "buy" rating for the company in a research note on Wednesday, August 19th. Wells Fargo & Company dropped their price target on shares of Intuit from $360.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 26th. Evercore reissued an "outperform" rating on shares of Intuit in a report on Friday, September 18th. Jefferies Financial Group reduced their price objective on shares of Intuit from $550.00 to $500.00 and set a "buy" rating for the company in a research report on Sunday, August 23rd. Finally, Mizuho reaffirmed an "outperform" rating and issued a $430.00 price objective on shares of Intuit in a research note on Friday, September 18th. Sixteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Intuit currently has an average rating of "Hold" and a consensus price target of $431.55.

Intuit Stock Down 1.0%

Shares of Intuit stock opened at $339.89 on Tuesday. The stock has a 50-day moving average price of $321.12 and a 200 day moving average price of $370.21. The company has a market cap of $90.83 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.13 and a beta of 1.01. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.34. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $689.17.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.27 billion. During the same period in the prior year, the firm earned $2.75 earnings per share. The firm's revenue was up 13.7% compared to the same quarter last year. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. As a group, analysts expect that Intuit Inc. will post 23.02 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, October 8th were issued a dividend of $1.38 per share. The ex-dividend date was Thursday, October 8th. This represents a $5.52 annualized dividend and a dividend yield of 1.6%. This is an increase from Intuit's previous quarterly dividend of $1.20. Intuit's dividend payout ratio is presently 33.45%.

About Intuit

Intuit Inc is a global financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, taxes and marketing. Its ecosystem combines financial management, tax preparation, accounting, payments and customer relationship tools.

The company's principal products include TurboTax for tax preparation, QuickBooks for accounting, invoicing, payroll and payments, Credit Karma for personal financial services, and Mailchimp for marketing automation and customer engagement.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.