Bank of America Corp DE Makes New Investment in Intuit Inc. $INTU

Key Points

• Bank of America acquired 2.26 million Intuit shares worth approximately $589.8 million in the second quarter, representing about 0.83% of the company. Institutional investors and hedge funds collectively own 83.66% of Intuit.
• Intuit exceeded quarterly expectations with adjusted earnings of $4.03 per share and revenue of $4.35 billion, while revenue increased 13.7% year over year. The company also raised its quarterly dividend from $1.20 to $1.38 per share and issued fiscal 2027 EPS guidance of $22.88–$23.12.
• Analyst sentiment is mixed, with Intuit holding a consensus “Hold” rating and an average price target of $430.97. Investors remain focused on the company’s upcoming Investor Day and whether its AI strategy can sustain growth, while the stock remains well below its 52-week high.

Bank of America Corp DE bought a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,259,926 shares of the software maker's stock, valued at approximately $589,841,000. Bank of America Corp DE owned about 0.83% of Intuit at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sandy Cove Advisors LLC raised its holdings in shares of Intuit by 6.8% during the fourth quarter. Sandy Cove Advisors LLC now owns 376 shares of the software maker's stock worth $249,000 after acquiring an additional 24 shares during the period. Main Management ETF Advisors LLC boosted its holdings in Intuit by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 2,349 shares of the software maker's stock worth $1,556,000 after purchasing an additional 24 shares during the last quarter. Verus Capital Partners LLC boosted its holdings in Intuit by 5.2% during the fourth quarter. Verus Capital Partners LLC now owns 506 shares of the software maker's stock worth $335,000 after purchasing an additional 25 shares during the last quarter. Legacy Wealth Managment LLC ID increased its position in shares of Intuit by 10.3% in the first quarter. Legacy Wealth Managment LLC ID now owns 267 shares of the software maker's stock valued at $115,000 after acquiring an additional 25 shares during the last quarter. Finally, Prentice Wealth Management LLC increased its position in shares of Intuit by 3.1% in the first quarter. Prentice Wealth Management LLC now owns 876 shares of the software maker's stock valued at $379,000 after acquiring an additional 26 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 2.9%

Shares of INTU opened at $329.27 on Wednesday. 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 12 month low of $252.84 and a 12 month high of $705.08. The firm's 50 day moving average is $323.23 and its 200-day moving average is $351.52. The stock has a market capitalization of $87.99 billion, a PE ratio of 19.96, a P/E/G ratio of 0.97 and a beta of 0.98.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The software maker reported $4.03 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $4.27 billion. During the same quarter in the prior year, the business posted $2.75 earnings per share. Intuit'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. Equities research analysts forecast that Intuit Inc. will post 23.49 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Thursday, October 8th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Thursday, October 8th. This is an increase from Intuit's previous quarterly dividend of $1.20. This represents a $5.52 annualized dividend and a dividend yield of 1.7%. Intuit's payout ratio is 33.45%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BNP Paribas Exane cut their price objective on Intuit from $463.00 to $315.00 and set a "neutral" rating for the company in a report on Thursday, May 21st. Rothschild & Co Redburn decreased their price objective on shares of Intuit from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, June 2nd. Northcoast Research lowered their price objective on shares of Intuit from $575.00 to $465.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Barclays dropped their target price on shares of Intuit from $443.00 to $408.00 and set an "overweight" rating on the stock in a report on Wednesday, August 26th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Intuit in a research report on Tuesday, September 8th. Seventeen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Intuit currently has an average rating of "Hold" and a consensus target price of $430.97.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s September 17 Investor Day is the key near-term catalyst. Management is expected to outline its “growth reset,” AI strategy, and broader priorities, potentially reassuring investors that AI will enhance rather than undermine the company’s products. Intuit Investor Day article
• Positive Sentiment: Market commentator Jim Cramer defended Intuit ahead of the event, arguing that the stock receives excessive criticism from investors who expect AI disruption. His comments could support sentiment if the company presents credible AI-related growth opportunities. Jim Cramer Intuit article
• Positive Sentiment: Intuit recently exceeded quarterly earnings and revenue expectations, increased its dividend, and guided to fiscal 2027 adjusted EPS of $22.88–$23.12. Its QuickBooks online money portfolio, including payments, Bill Pay, and lending, is growing, providing additional monetization opportunities. Intuit payments growth article
• Neutral Sentiment: A broader rotation from semiconductor and AI hardware stocks into enterprise software has recently benefited Intuit and other software names. However, the stock remains well below its 52-week high and below its 200-day moving average, indicating that investors have not fully regained confidence.
• Negative Sentiment: The main overhang is uncertainty about whether Intuit can sustain growth while proving that generative AI will strengthen its competitive position. The upcoming Investor Day therefore carries elevated expectations; an insufficiently detailed outlook could trigger further selling despite the recent earnings beat.

Insiders Place Their Bets

In related news, Director Richard Dalzell sold 285 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total value of $92,727.60. Following the sale, the director owned 11,531 shares of the company's stock, valued at $3,751,726.16. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock in a transaction on 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 sale, the chief accounting officer owned 1,628 shares of the company's stock, valued at $564,167.12. The trade was a 35.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,476 shares of company stock worth $481,538. 2.49% of the stock is owned by company insiders.

About Intuit

Intuit Inc is a financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, tax obligations and customer relationships. The company is headquartered in Mountain View, California, and serves customers primarily in the United States and Canada, with additional international availability for certain products.

Its principal offerings include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, invoicing, payroll and payments tools for small businesses and self-employed individuals; Credit Karma, a personal finance platform offering credit monitoring and related financial products; and Mailchimp, an email marketing and customer engagement service for businesses.

Intuit was founded in 1983 by Scott Cook and Tom Proulx.

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