Ethic Inc. Acquires 2,057 Shares of Intuit Inc. $INTU

Key Points

• Ethic Inc. increased its holdings in Intuit Inc. by 7.0%, acquiring an additional 2,057 shares, bringing its total to 31,284 shares valued at $24.3 million.
• Intuit declared a quarterly dividend increase from $1.04 to $1.20 per share, representing an annualized yield of 0.7%.
• Wall Street analysts maintain a mostly positive outlook for Intuit, with a consensus price target of $791.82 and 21 analysts rating the stock as a buy.

Ethic Inc. grew its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,284 shares of the software maker's stock after purchasing an additional 2,057 shares during the quarter. Ethic Inc.'s holdings in Intuit were worth $24,294,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Intuit by 1.2% during the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after acquiring an additional 36,513 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Intuit by 4.7% in the first 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 raised its holdings in Intuit by 22.1% in the first 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 in the last quarter. Circle Wealth Management LLC lifted its position in Intuit by 33.4% during the first quarter. Circle Wealth Management LLC now owns 3,451 shares of the software maker's stock valued at $2,119,000 after buying an additional 865 shares during the period. Finally, Pinnacle Financial Partners Inc grew its stake in shares of Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after buying an additional 623 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INTU shares. Royal Bank Of Canada reissued an "outperform" rating and set a $850.00 price objective on shares of Intuit in a research report on Tuesday, September 2nd. Citigroup cut their price target on shares of Intuit from $815.00 to $803.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. BMO Capital Markets boosted their price objective on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Oppenheimer lifted their target price on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. lowered their price target on Intuit from $770.00 to $750.00 and set an "overweight" rating on the stock in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $791.82.

Intuit Price Performance

NASDAQ INTU opened at $673.39 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The stock has a market capitalization of $187.74 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 2.57 and a beta of 1.25. The business's fifty day moving average price is $673.93 and its 200-day moving average price is $696.36.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.75 billion. Intuit had a return on equity of 22.72% and a net margin of 20.55%.Intuit's revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 earnings per share. 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 declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Thursday, October 9th were issued a dividend of $1.20 per share. This is a boost from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, October 9th. Intuit's payout ratio is 34.93%.

Insider Activity at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $661.15, for a total transaction of $220,162.95. Following the completion of the transaction, the director owned 14,475 shares in the company, valued at $9,570,146.25. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,170 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $677.06, for a total value of $792,160.20. Following the transaction, the chief financial officer directly owned 1,295 shares of the company's stock, valued at approximately $876,792.70. The trade was a 47.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,407 shares of company stock valued at $1,614,913. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.