Davidson Investment Advisors Buys 412 Shares of Intuit Inc. $INTU

Key Points

• Davidson Investment Advisors increased its stake in Intuit Inc. by 1.0%, owning 43,399 shares valued at approximately $34.2 million at the end of Q2 2023.
• Multiple hedge funds, including Invesco Ltd. and Charles Schwab Investment Management, have also boosted their holdings in Intuit, indicating strong institutional interest as 83.66% of the stock is owned by hedge funds and institutional investors.
• Intuit recently announced a quarterly dividend increase to $1.20, representing a 0.7% yield, up from its previous dividend of $1.04, as part of its positive financial outlook.

Davidson Investment Advisors boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,399 shares of the software maker's stock after purchasing an additional 412 shares during the period. Intuit makes up approximately 1.5% of Davidson Investment Advisors' holdings, making the stock its 16th largest position. Davidson Investment Advisors' holdings in Intuit were worth $34,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after acquiring an additional 36,513 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Intuit by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock worth $1,130,718,000 after purchasing an additional 82,419 shares during the period. Vident Advisory LLC lifted its stake in shares of Intuit by 22.1% in the 1st quarter. Vident Advisory LLC now owns 46,940 shares of the software maker's stock worth $28,821,000 after purchasing an additional 8,510 shares during the period. Circle Wealth Management LLC boosted its holdings in shares of Intuit by 33.4% in the first quarter. Circle Wealth Management LLC now owns 3,451 shares of the software maker's stock worth $2,119,000 after buying an additional 865 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in Intuit by 3.6% during the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after buying an additional 623 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America decreased their price target on shares of Intuit from $875.00 to $800.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. Royal Bank Of Canada restated an "outperform" rating and issued a $850.00 price objective on shares of Intuit in a research note on Tuesday, September 2nd. UBS Group lowered their target price on Intuit from $750.00 to $725.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. Zacks Research cut Intuit from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Intuit in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average price target of $791.82.

Insider Transactions at Intuit

In other news, Director Scott D. Cook sold 529 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $351,779.71. Following the transaction, the director owned 6,162,547 shares of the company's stock, valued at approximately $4,098,032,129.53. The trade was a 0.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $661.15, for a total value of $220,162.95. Following the sale, the director owned 14,475 shares in the company, valued at $9,570,146.25. The trade was a 2.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,407 shares of company stock worth $1,614,913. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Up 0.2%

INTU stock opened at $657.16 on Wednesday. The firm has a fifty day moving average price of $682.10 and a 200 day moving average price of $694.33. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The firm has a market cap of $183.22 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25. 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 released its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the business earned $1.99 earnings per share. Intuit's quarterly revenue was up 20.3% compared to the same quarter last year. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. Sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. This is a positive change from Intuit's previous quarterly dividend of $1.04. Intuit's dividend 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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