Baer Investment Advisory LLC Reduces Stock Holdings in Intuit Inc. $INTU

Key Points

• Baer Investment Advisory LLC cut its Intuit stake by 72.2% in the first quarter, leaving it with 2,029 shares valued at about $877,000.
• Intuit reported better-than-expected quarterly results, posting EPS of $12.80 versus $12.57 expected and revenue of $8.56 billion, up 10.4% year over year.
• The company declared a quarterly dividend of $1.20 per share, payable July 17, which annualizes to $4.80 per share and a yield of 1.7%.

Baer Investment Advisory LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 72.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,029 shares of the software maker's stock after selling 5,272 shares during the period. Baer Investment Advisory LLC's holdings in Intuit were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Intuit by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker's stock valued at $19,156,152,000 after buying an additional 296,448 shares during the period. State Street Corp boosted its position in Intuit by 1.4% in the 4th quarter. State Street Corp now owns 13,062,848 shares of the software maker's stock worth $8,653,092,000 after purchasing an additional 180,069 shares in the last quarter. Geode Capital Management LLC boosted its position in Intuit by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker's stock worth $4,369,488,000 after purchasing an additional 87,451 shares in the last quarter. Morgan Stanley grew its stake in shares of Intuit by 1.2% during the 4th quarter. Morgan Stanley now owns 5,100,857 shares of the software maker's stock worth $3,378,912,000 after purchasing an additional 60,910 shares during the period. Finally, Norges Bank acquired a new stake in shares of Intuit during the 4th quarter worth approximately $3,058,407,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ:INTU opened at $275.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.45 and a current ratio of 1.45. The company has a fifty day moving average of $325.83 and a two-hundred day moving average of $433.75. The stock has a market capitalization of $75.32 billion, a PE ratio of 16.68, a P/E/G ratio of 1.01 and a beta of 1.00. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter last year, the business earned $11.65 earnings per share. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, research analysts forecast that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, July 9th will be issued a $1.20 dividend. The ex-dividend date is Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Intuit's dividend payout ratio (DPR) is presently 29.07%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INTU. HSBC decreased their target price on shares of Intuit from $897.00 to $707.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. TD Cowen cut their price objective on shares of Intuit from $576.00 to $504.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Truist Financial decreased their price objective on shares of Intuit from $500.00 to $410.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Weiss Ratings lowered shares of Intuit from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, June 11th. Finally, Jefferies Financial Group dropped their target price on Intuit from $650.00 to $550.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Twenty-two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and a consensus price target of $498.40.

Insider Activity

In related news, Director Vasant M. Prabhu bought 1,250 shares of the company's stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $309.45 per share, for a total transaction of $386,812.50. Following the acquisition, the director directly owned 1,250 shares in the company, valued at $386,812.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard L. Dalzell sold 338 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the sale, the director directly owned 12,326 shares of the company's stock, valued at $3,449,554.36. This represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,239 shares of company stock worth $348,354. Insiders own 2.49% of the company's stock.

Intuit Profile

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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