Assetmark Inc. Has $37.68 Million Holdings in Intuit Inc. $INTU

Key Points

• Assetmark Inc. boosted its Intuit stake by 36.6% in the first quarter, buying 23,356 additional shares and bringing its total to 87,138 shares worth about $37.68 million.
• Wall Street sentiment on Intuit remains mixed but generally constructive, with a consensus rating of “Moderate Buy” and an average price target of $490.39, even as several firms recently cut targets or downgraded the stock.
• Intuit reported better-than-expected quarterly results, including EPS of $12.80 on revenue of $8.56 billion, and it also highlighted an AI-driven growth story, though the stock faces a legal overhang from multiple securities class-action notices.

Assetmark Inc. increased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 36.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 87,138 shares of the software maker's stock after purchasing an additional 23,356 shares during the period. Assetmark Inc.'s holdings in Intuit were worth $37,677,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Joseph Group Capital Management acquired a new position in shares of Intuit in the 4th quarter valued at about $25,000. Intesa Sanpaolo Wealth Management acquired a new position in Intuit in the 4th quarter valued at approximately $25,000. HHM Wealth Advisors LLC lifted its position in Intuit by 75.0% in the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker's stock worth $30,000 after buying an additional 30 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Intuit during the 1st quarter valued at about $30,000. Finally, CrossGen Wealth LLC acquired a new position in Intuit in the first quarter worth approximately $32,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on INTU shares. Oppenheimer decreased their price target on Intuit from $558.00 to $406.00 and set an "outperform" rating for the company in a research note on Thursday, May 21st. Jefferies Financial Group reduced their target price on Intuit from $650.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Erste Group Bank upgraded Intuit to a "hold" rating in a report on Monday, April 27th. Mizuho dropped their price target on shares of Intuit from $600.00 to $500.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group cut shares of Intuit from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $519.00 to $276.00 in a research note on Tuesday, June 2nd. Twenty-two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $490.39.

Intuit News Summary

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit is being viewed as a long-term AI beneficiary as it embeds AI across its platform to automate financial workflows, expand higher-value services, and support future growth. Intuit Reinvents Itself With AI: Should You Buy the Stock?
• Positive Sentiment: The company’s AI initiative could improve productivity and deepen customer usage, which may support margins and recurring revenue over time. Intuit Reinvents Itself With AI: Should You Buy the Stock?
• Neutral Sentiment: One analyst note referenced Intuit being upgraded to “strong sell,” but the item provides no detailed rationale and appears secondary to the broader legal-news flow. Intuit upgraded by Piper Sandler to strong sell
• Negative Sentiment: Multiple law firms announced or reminded investors about a pending securities class action against Intuit, with a lead-plaintiff deadline of September 8, 2026, creating a legal overhang for the stock. Bronstein, Gewirtz & Grossman LLC Urges Intuit Inc. Investors to Act
• Negative Sentiment: The lawsuit alleges securities fraud and investor harm related to the period when Intuit’s stock dropped after guidance changes, which may keep pressure on shares near term. Robbins Geller Rudman & Dowd LLP Announces that Intuit Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
• Negative Sentiment: Several additional firms filed or promoted similar class-action notices, reinforcing concerns that Intuit may face prolonged litigation and headline risk. Pomerantz Law Firm Announces the Filing of a Class Action Against Intuit Inc. and Certain Officers

Intuit Price Performance

NASDAQ:INTU opened at $291.09 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The firm has a market cap of $79.62 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.08 and a beta of 1.00. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $813.70. The company's 50-day moving average price is $303.20 and its two-hundred day moving average price is $406.56.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $0.23. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.65 EPS. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. On average, equities analysts anticipate that Intuit Inc. will post 18.18 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Thursday, July 9th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, July 9th. Intuit's payout ratio is presently 29.07%.

Insider Transactions at Intuit

In related news, Director Vasant M. Prabhu purchased 500 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $309.71 per share, with a total value of $154,855.00. Following the purchase, the director directly owned 1,750 shares in the company, valued at $541,992.50. The trade was a 40.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard L. Dalzell sold 284 shares of Intuit stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total transaction of $74,498.88. Following the transaction, the director directly owned 11,758 shares in the company, valued at $3,084,358.56. The trade was a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is currently owned by company insiders.

About Intuit

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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