Berger Financial Group Inc Grows Stock Position in Intuit Inc. $INTU

Key Points

• Berger Financial Group boosted its Intuit stake by 366% in the first quarter, ending with 15,620 shares worth about $6.75 million.
• Intuit reported better-than-expected quarterly results, posting EPS of $12.80 on revenue of $8.56 billion, both slightly ahead of estimates, while revenue rose 10.4% year over year.
• The company declared a quarterly dividend of $1.20 per share and drew mixed analyst reactions, with the consensus still at Moderate Buy but several firms cutting price targets and one downgrade to sell.

Berger Financial Group Inc increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 366.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,620 shares of the software maker's stock after buying an additional 12,268 shares during the quarter. Berger Financial Group Inc's holdings in Intuit were worth $6,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of INTU. Rakuten Investment Management Inc. grew its stake in Intuit by 522.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker's stock worth $34,852,000 after acquiring an additional 43,389 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Intuit by 20.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker's stock valued at $1,848,954,000 after acquiring an additional 471,451 shares in the last quarter. Vestcor Inc boosted its holdings in shares of Intuit by 79.1% in the fourth quarter. Vestcor Inc now owns 20,717 shares of the software maker's stock valued at $13,723,000 after purchasing an additional 9,148 shares during the period. Janney Montgomery Scott LLC grew its stake in Intuit by 119.5% in the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker's stock worth $37,452,000 after purchasing an additional 47,148 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Intuit by 13.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker's stock worth $39,728,000 after purchasing an additional 6,999 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In related news, Director Richard L. Dalzell sold 338 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total value of $94,592.68. Following the completion of the transaction, the director directly owned 12,326 shares of the company's stock, valued at $3,449,554.36. This trade represents a 2.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 1,250 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of $309.45 per share, with a total value of $386,812.50. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,239 shares of company stock worth $348,354. 2.49% of the stock is owned by company insiders.

Intuit Stock Performance

INTU opened at $275.35 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26. The firm has a market cap of $75.32 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.01 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 stock has a fifty day moving average price of $325.83 and a 200-day moving average price of $433.75.

Intuit (NASDAQ:INTU - Get Free Report) last posted 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 return on equity of 25.18% and a net margin of 21.91%.The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the firm earned $11.65 earnings per share. The firm'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. As a group, equities research analysts anticipate that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus reaffirmed a "hold" rating and set a $275.00 target price (down from $375.00) on shares of Intuit in a research report on Wednesday, June 17th. Weiss Ratings lowered Intuit from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, June 11th. Erste Group Bank upgraded Intuit to a "hold" rating in a report on Monday, April 27th. TD Cowen lowered their price objective on shares of Intuit from $576.00 to $504.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Finally, Evercore dropped their target price on shares of Intuit from $540.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, May 21st. Twenty-two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $498.40.

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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