Bank of New York Mellon Corp Sells 150,733 Shares of Intuit Inc. $INTU

Key Points

• Bank of New York Mellon trimmed its Intuit stake by 5.4% in the first quarter, selling 150,733 shares and still holding about 2.64 million shares valued at roughly $1.14 billion.
• Intuit reported better-than-expected quarterly earnings, with EPS of $12.80 versus the $12.57 consensus, while revenue rose 10.4% year over year to $8.56 billion.
• Despite solid fundamentals and a recent Buy upgrade from Zacks, sentiment remains pressured by class-action lawsuit and securities-fraud investigations tied to TurboTax growth and pricing allegations, alongside mixed analyst price-target cuts.

Bank of New York Mellon Corp decreased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,640,479 shares of the software maker's stock after selling 150,733 shares during the quarter. Bank of New York Mellon Corp owned about 0.95% of Intuit worth $1,141,690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in INTU. Joseph Group Capital Management purchased a new stake in Intuit in the fourth quarter worth about $25,000. Intesa Sanpaolo Wealth Management purchased a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Intuit during the 3rd quarter worth approximately $33,000. Birchwood Financial Partners Inc. bought a new position in shares of Intuit in the 4th quarter worth approximately $33,000. Finally, Barnes Dennig Private Wealth Management LLC lifted its stake in shares of Intuit by 54.3% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the software maker's stock valued at $36,000 after purchasing an additional 19 shares during the period. Institutional investors own 83.66% of the company's stock.

Intuit Price Performance

NASDAQ INTU opened at $279.70 on Thursday. Intuit Inc. has a one year low of $252.84 and a one year high of $813.70. The stock has a 50-day moving average of $307.54 and a 200 day moving average of $410.07. 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 market capitalization of $76.51 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.03 and a beta of 1.00.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter last year, the firm posted $11.65 EPS. The business's quarterly revenue 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. On average, sell-side analysts forecast that Intuit Inc. will post 18.19 EPS for the current year.

Intuit Announces Dividend

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

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Zacks upgraded Intuit (INTU) to Rank #2 (Buy), citing improving earnings expectations and signaling near-term optimism that could help support the stock. Article Title
• Positive Sentiment: Another Zacks piece highlighted Intuit’s solid growth profile, reinforcing the view that the company still has strong long-term fundamentals. Article Title
• Positive Sentiment: Wall Street analyst sentiment remains broadly constructive, with the average brokerage recommendation for INTU still equivalent to a Buy. Article Title
• Neutral Sentiment: A marketing-focused article about Intuit Mailchimp and Canva discussed partnership-style growth marketing themes, but it does not appear to carry a direct, immediate earnings impact for INTU. Article Title
• Neutral Sentiment: Several comparison pieces on INTU vs. MSFT focus on valuation and relative attractiveness rather than a new company-specific catalyst. Article Title
• Negative Sentiment: Multiple law firms announced or promoted class-action lawsuits and securities-fraud investigations tied to alleged misstatements about TurboTax growth and pricing issues, which is the biggest near-term drag on sentiment for Intuit. Article Title
• Negative Sentiment: Piper Sandler reportedly initiated coverage with a sell-equivalent rating and a street-low price target, contributing to the stock’s decline. Article Title
• Negative Sentiment: Earlier reports also said INTU was hit after market hours as legal and valuation concerns intensified, adding to the recent weakness. Article Title

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wolfe Research restated an "outperform" rating and set a $400.00 target price on shares of Intuit in a report on Thursday, May 21st. UBS Group lowered their price target on shares of Intuit from $440.00 to $360.00 and set a "neutral" rating for the company in a research report on Thursday, May 21st. TD Cowen dropped their price objective on shares of Intuit from $576.00 to $504.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Citigroup cut their price objective on shares of Intuit from $649.00 to $591.00 and set a "buy" rating on the stock in a report on Thursday, May 21st. Finally, Susquehanna decreased their target price on shares of Intuit from $640.00 to $550.00 and set a "positive" rating for the company in a research note on Friday, May 22nd. Twenty-two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $490.39.

Insiders Place Their Bets

In other news, Director Vasant M. Prabhu bought 500 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $309.71 per share, with a total value of $154,855.00. Following the completion of the acquisition, the director owned 1,750 shares in the company, valued at $541,992.50. The trade was a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Dalzell sold 284 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the sale, the director owned 11,758 shares of the company's stock, valued at approximately $3,084,358.56. This represents a 2.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by company insiders.

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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