Bath Savings Trust Co Decreases Stock Position in Intuit Inc. $INTU

Key Points

• Bath Savings Trust Co. reduced its Intuit stake by 7.1% in the third quarter, selling 3,421 shares and retaining 44,676 shares valued at approximately $12.3 million.
• Intuit reported quarterly earnings of $4.03 per share and revenue of $4.35 billion, exceeding analyst expectations, while revenue increased 13.7% year over year.
• Intuit raised its quarterly dividend to $1.38 per share, up from $1.20, implying an annualized dividend of $5.52 and a yield of about 1.9%; analysts maintain a consensus “Hold” rating with an average price target of $431.55.

Bath Savings Trust Co decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,676 shares of the software maker's stock after selling 3,421 shares during the quarter. Intuit accounts for approximately 1.3% of Bath Savings Trust Co's investment portfolio, making the stock its 21st largest position. Bath Savings Trust Co's holdings in Intuit were worth $12,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in INTU. State Street Corp grew its holdings in shares of Intuit by 1.4% during the 4th quarter. State Street Corp now owns 13,062,848 shares of the software maker's stock valued at $8,653,092,000 after purchasing an additional 180,069 shares during the last quarter. BlackRock Inc. bought a new position in Intuit in the 2nd quarter valued at approximately $6,851,859,000. Arrowstreet Capital Limited Partnership lifted its stake in Intuit by 102.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker's stock valued at $1,684,795,000 after purchasing an additional 1,972,719 shares during the last quarter. Nuveen LLC boosted its position in Intuit by 20.5% in the fourth quarter. Nuveen LLC now owns 2,465,130 shares of the software maker's stock valued at $1,632,951,000 after buying an additional 419,941 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Intuit by 14.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,018,738 shares of the software maker's stock valued at $1,337,257,000 after buying an additional 256,400 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In related news, Director Richard L. Dalzell sold 285 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total value of $92,727.60. Following the sale, the director directly owned 11,531 shares in the company, valued at $3,751,726.16. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren D. Hotz sold 907 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total transaction of $314,311.78. Following the sale, the chief accounting officer directly owned 1,628 shares of the company's stock, valued at $564,167.12. This represents a 35.78% decrease in their position. The SEC filing for this sale provides additional information. 2.49% of the stock is owned by company insiders.

Intuit Trading Up 2.6%

Shares of INTU stock traded up $7.43 during trading hours on Wednesday, hitting $297.24. 3,519,048 shares of the company's stock traded hands, compared to its average volume of 4,283,032. The stock has a market cap of $79.43 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.83 and a beta of 1.01. The stock's 50 day simple moving average is $323.25 and its 200 day simple moving average is $335.16. The company has a quick ratio of 1.51, a current 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 $689.17.

Intuit (NASDAQ:INTU - Get Free Report) last issued 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. The company had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.27 billion. Intuit had a net margin of 21.29% and a return on equity of 25.97%. Intuit's revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.75 earnings per share. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. On average, sell-side analysts anticipate that Intuit Inc. will post 23.01 EPS for the current year.

Intuit Increases Dividend

The business 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 $1.38 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This is a positive change from Intuit's previous quarterly dividend of $1.20. This represents a $5.52 annualized dividend and a dividend yield of 1.9%. Intuit's payout ratio is currently 33.45%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on INTU shares. Mizuho reiterated an "outperform" rating and set a $430.00 price target on shares of Intuit in a report on Friday, September 18th. Barclays cut their price objective on Intuit from $443.00 to $408.00 and set an "overweight" rating on the stock in a report on Wednesday, August 26th. Stifel Nicolaus restated a "hold" rating and set a $300.00 price objective on shares of Intuit in a research report on Friday, September 18th. Jefferies Financial Group lowered their target price on Intuit from $550.00 to $500.00 and set a "buy" rating for the company in a report on Sunday, August 23rd. Finally, Morgan Stanley dropped their target price on Intuit from $335.00 to $315.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 26th. Sixteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $431.55.

About Intuit

Intuit Inc is a global financial technology and business software company headquartered in Mountain View, California. The company develops products designed to help consumers, small businesses and accounting professionals manage finances, prepare taxes, operate businesses and make financial decisions.

Its principal products and services include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, payroll, payments and related business management tools; Credit Karma, a personal finance platform offering credit monitoring and financial product recommendations; 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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