BI Asset Management Fondsmaeglerselskab A S Has $5.73 Million Stock Position in Intuit Inc. $INTU

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its Intuit stake by 77.9% in the first quarter, selling 46,737 shares and leaving it with 13,259 shares valued at about $5.73 million.
• Intuit reported better-than-expected fiscal third-quarter earnings, with EPS of $12.80 versus $12.57 expected and revenue of $8.56 billion, up 10.4% year over year.
• The company also announced a quarterly dividend of $1.20 per share, payable July 17, while analysts currently rate the stock a Moderate Buy with a consensus price target of $511.35.

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 77.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,259 shares of the software maker's stock after selling 46,737 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Intuit were worth $5,733,000 as of its most recent filing with the SEC.

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

Intuit Price Performance

Shares of INTU opened at $257.77 on Tuesday. The company's 50-day moving average is $347.59 and its 200-day moving average is $457.36. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $70.51 billion, a PE ratio of 15.61, a PEG ratio of 0.98 and a beta of 0.98. 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 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the previous year, the firm posted $11.65 EPS. Intuit's 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. Equities analysts forecast that Intuit Inc. will post 18.18 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.9%. Intuit's dividend payout ratio is presently 29.07%.

Wall Street Analyst Weigh In

A number of brokerages have commented on INTU. HSBC cut their price target 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. Wells Fargo & Company lowered their price objective on shares of Intuit from $425.00 to $360.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 21st. Wolfe Research reaffirmed an "outperform" rating and issued a $400.00 target price on shares of Intuit in a report on Thursday, May 21st. Scotiabank set a $575.00 target price on shares of Intuit in a research note on Friday, March 6th. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $275.00 price target (down from $375.00) on shares of Intuit in a report on Wednesday, June 17th. Twenty-three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $511.35.

Insider Buying and Selling at Intuit

In other Intuit news, Director Richard L. Dalzell sold 284 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $282.20, for a total value of $80,144.80. Following the transaction, the director directly owned 12,042 shares of the company's stock, valued at $3,398,252.40. This represents a 2.30% decrease in their position. The sale was disclosed in a filing 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 500 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $309.71 per share, with a total value of $154,855.00. Following the acquisition, the director directly owned 1,750 shares of the company's stock, valued at approximately $541,992.50. This represents a 40.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 955 shares of company stock valued at $273,855 over the last 90 days. 2.49% of the stock is currently owned by corporate 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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