Destiny Wealth Partners LLC Takes Position in Intuit Inc. $INTU

Key Points

• Destiny Wealth Partners LLC has acquired 513 shares of Intuit Inc., valued at approximately $404,000, marking a new investment in the company.
• Intuit's recent earnings report for the quarter showed $2.75 EPS, exceeding expectations, and a 20.3% revenue increase year-over-year.
• The company has increased its quarterly dividend from $1.04 to $1.20 per share, effective October 17th, 2023, which translates to an annualized yield of 0.7%.

Destiny Wealth Partners LLC bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 513 shares of the software maker's stock, valued at approximately $404,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. GAMMA Investing LLC increased its stake in shares of Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after buying an additional 2,821,534 shares in the last quarter. Nuveen LLC acquired a new stake in Intuit in the first quarter worth about $882,031,000. Nicholas Hoffman & Company LLC. acquired a new stake in Intuit in the first quarter worth about $785,564,000. Price T Rowe Associates Inc. MD increased its position in Intuit by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock worth $5,537,435,000 after purchasing an additional 649,212 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in Intuit by 55.5% in the first quarter. Pictet Asset Management Holding SA now owns 1,053,197 shares of the software maker's stock worth $646,613,000 after purchasing an additional 375,742 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Zacks Research lowered Intuit from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. CLSA assumed coverage on Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price objective for the company. UBS Group lowered their price objective on Intuit from $750.00 to $725.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. Rothschild & Co Redburn lifted their price objective on Intuit from $560.00 to $670.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Bank of America lowered their price objective on Intuit from $875.00 to $800.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $791.82.

Intuit Price Performance

Shares of INTU opened at $692.68 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The stock has a market cap of $193.12 billion, a P/E ratio of 50.41, a price-to-earnings-growth ratio of 2.68 and a beta of 1.26. The stock's 50-day moving average price is $711.13 and its two-hundred day moving average price is $687.65.

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, topping analysts' consensus estimates of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The firm had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the business earned $1.99 earnings per share. The company's 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. On average, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently disclosed 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. This is a boost from Intuit's previous quarterly dividend of $1.04. The ex-dividend date is Thursday, October 9th. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. Intuit's dividend payout ratio (DPR) is presently 30.28%.

Insider Buying and Selling at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction dated Thursday, July 10th. The stock was 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. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of Intuit stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the transaction, the chief financial officer owned 768 shares in the company, valued at $600,744.96. This trade represents a 77.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,141 shares of company stock worth $6,195,865 over the last three months. Company insiders own 2.68% of the company's stock.

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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