Appleton Partners Inc. MA Lowers Position in Intuit Inc. $INTU

Key Points

• Appleton Partners Inc. MA reduced its stake in Intuit Inc. by 7.6%, now holding 22,080 shares valued at approximately $17.39 million.
• Several institutional investors significantly increased their holdings in Intuit, with Dogwood Wealth Management increasing their position by 111.8% during the second quarter.
• Intuit announced a quarterly dividend increase to $1.20 per share, payable on October 17th, marking a boost from its previous dividend of $1.04.

Appleton Partners Inc. MA reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 7.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,080 shares of the software maker's stock after selling 1,816 shares during the quarter. Intuit makes up 1.2% of Appleton Partners Inc. MA's investment portfolio, making the stock its 19th largest holding. Appleton Partners Inc. MA's holdings in Intuit were worth $17,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dogwood Wealth Management LLC increased its position in shares of Intuit by 111.8% during the 2nd quarter. Dogwood Wealth Management LLC now owns 36 shares of the software maker's stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of Intuit by 1,566.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 50 shares of the software maker's stock valued at $31,000 after purchasing an additional 47 shares during the last quarter. TD Capital Management LLC increased its position in shares of Intuit by 511.1% during the 1st quarter. TD Capital Management LLC now owns 55 shares of the software maker's stock valued at $34,000 after purchasing an additional 46 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Intuit during the 1st quarter valued at $37,000. Finally, Activest Wealth Management increased its position in shares of Intuit by 3,050.0% during the 1st quarter. Activest Wealth Management now owns 63 shares of the software maker's stock valued at $39,000 after purchasing an additional 61 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on INTU shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Intuit in a research note on Saturday, September 27th. Zacks Research downgraded Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded Intuit from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup cut their price target on Intuit from $815.00 to $803.00 and set a "buy" rating for the company in a research note on Friday, August 22nd. Finally, Stifel Nicolaus cut their price target on Intuit from $850.00 to $800.00 and set a "buy" rating for the company in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $791.82.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 42 shares of the company's stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott D. Cook sold 529 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $664.99, for a total value of $351,779.71. Following the completion of the sale, the director directly owned 6,162,547 shares in the company, valued at approximately $4,098,032,129.53. The trade was a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,785 shares of company stock valued at $2,029,299 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of INTU stock opened at $679.94 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The stock has a 50 day moving average price of $700.95 and a two-hundred day moving average price of $692.75. The company has a market capitalization of $189.57 billion, a P/E ratio of 49.49, a PEG ratio of 2.62 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The business's revenue was up 20.3% on a year-over-year basis. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

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

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.

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.