Bourgeon Capital Management LLC Lowers Stock Holdings in Intuit Inc. $INTU

Key Points

• Bourgeon Capital Management LLC reduced its holdings in Intuit Inc. by 42.7%, now owning 726 shares worth $572,000.
• Several other institutional investors like KMG Fiduciary Partners LLC and Pinnacle Bancorp Inc. made minor adjustments to their stakes in Intuit during the same quarter.
• Intuit declared an increase in its quarterly dividend to $1.20 per share, set to be paid on October 17, 2023, reflecting an annualized dividend yield of 0.7%.

Bourgeon Capital Management LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 42.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 726 shares of the software maker's stock after selling 542 shares during the quarter. Bourgeon Capital Management LLC's holdings in Intuit were worth $572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. KMG Fiduciary Partners LLC boosted its stake in shares of Intuit by 1.8% during the 2nd quarter. KMG Fiduciary Partners LLC now owns 771 shares of the software maker's stock worth $607,000 after acquiring an additional 14 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Intuit by 3.9% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 376 shares of the software maker's stock worth $296,000 after purchasing an additional 14 shares during the last quarter. Peloton Wealth Strategists raised its position in shares of Intuit by 0.3% during the 1st quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker's stock worth $2,710,000 after purchasing an additional 15 shares during the last quarter. Moody Lynn & Lieberson LLC raised its position in shares of Intuit by 0.9% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 1,672 shares of the software maker's stock worth $1,317,000 after purchasing an additional 15 shares during the last quarter. Finally, Decatur Capital Management Inc. raised its position in shares of Intuit by 0.3% during the 1st quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker's stock worth $3,069,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America cut their price target on Intuit from $875.00 to $800.00 and set a "buy" rating for the company in a report on Friday, August 22nd. Morgan Stanley dropped their price objective on Intuit from $900.00 to $880.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. BMO Capital Markets upped their price objective on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Citigroup dropped their price objective on Intuit from $815.00 to $803.00 and set a "buy" rating for the company in a report on Friday, August 22nd. Finally, Barclays dropped their price objective on Intuit from $815.00 to $785.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $791.82.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the transaction, the director owned 15,474 shares in the company, valued at $11,890,685.82. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,141 shares of company stock worth $6,195,865 in the last ninety days. Company insiders own 2.68% of the company's stock.

Intuit Trading Down 0.5%

Shares of NASDAQ:INTU opened at $694.69 on Tuesday. The company has a 50 day moving average price of $708.67 and a 200 day moving average price of $690.52. The stock has a market capitalization of $193.68 billion, a price-to-earnings ratio of 50.56, a PEG ratio of 2.69 and a beta of 1.26. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.75 billion. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The company's revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted $1.99 EPS. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be issued a dividend of $1.20 per share. The ex-dividend date is Thursday, October 9th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Intuit's previous quarterly dividend of $1.04. Intuit's payout ratio is 34.93%.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.

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