Assenagon Asset Management S.A. Decreases Holdings in Intuit Inc. $INTU

Key Points

• Assenagon Asset Management S.A. reduced its stake in Intuit Inc. ($INTU) by 72.8% during the second quarter, leaving it with 92,164 shares valued at approximately $72.59 million.
• Intuit has declared a quarterly dividend of $1.20 per share, up from the previous $1.04, with a yield of 0.7%, to be paid on October 17th.
• Intuit's latest earnings report for the quarter showed $2.75 EPS, exceeding analysts' expectations, with revenue increasing 20.3% year-over-year to $3.83 billion.

Assenagon Asset Management S.A. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 72.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 92,164 shares of the software maker's stock after selling 246,811 shares during the period. Assenagon Asset Management S.A.'s holdings in Intuit were worth $72,591,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after purchasing an additional 1,350 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after purchasing an additional 482 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after purchasing an additional 248 shares during the period. GTS Securities LLC boosted its holdings in Intuit by 131.7% in the 4th quarter. GTS Securities LLC now owns 2,901 shares of the software maker's stock valued at $1,823,000 after purchasing an additional 12,060 shares during the period. Finally, University of Texas Texas AM Investment Management Co. boosted its holdings in Intuit by 1,602.6% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 647 shares of the software maker's stock valued at $407,000 after purchasing an additional 609 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,738 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the sale, the chief accounting officer owned 455 shares of the company's stock, valued at $356,760.95. This trade represents a 79.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,879 shares of company stock valued at $7,558,613 over the last three months. Insiders own 2.68% of the company's stock.

Intuit Trading Down 0.9%

Shares of INTU traded down $6.36 during trading hours on Tuesday, hitting $695.73. 1,047,162 shares of the stock were exchanged, compared to its average volume of 1,845,515. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. The business has a 50-day moving average of $714.44 and a 200-day moving average of $686.73. The firm has a market capitalization of $193.97 billion, a P/E ratio of 50.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.26.

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

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Thursday, October 9th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, October 9th. This is an increase from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a dividend yield of 0.7%. Intuit's payout ratio is 30.28%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INTU. Stifel Nicolaus cut their price target on shares of Intuit from $850.00 to $800.00 and set a "buy" rating for the company in a report on Friday, August 22nd. KeyCorp lowered their price objective on shares of Intuit from $850.00 to $825.00 and set an "overweight" rating for the company in a research report on Friday, August 22nd. Barclays lowered their price objective on shares of Intuit from $815.00 to $785.00 and set an "overweight" rating for the company in a research report on Friday, August 22nd. UBS Group lowered their price objective on shares of Intuit from $750.00 to $725.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. Finally, Citigroup lowered their price objective on shares of Intuit from $815.00 to $803.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $791.82.

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.