Global X Japan Co. Ltd. Cuts Stake in Intuit Inc. $INTU

Key Points

• Global X Japan Co. Ltd. reduced its stake in Intuit Inc. by 24.5%, now holding 29,476 shares valued at approximately $23.2 million as of its latest SEC filing.
• Intuit recently increased its quarterly dividend to $1.20, up from $1.04, signaling a continued commitment to returning capital to shareholders.
• The company reported a 20.3% revenue increase year-over-year, with earnings per share of $2.75, surpassing analyst expectations of $2.66 for the latest quarter.

Global X Japan Co. Ltd. cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 24.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,476 shares of the software maker's stock after selling 9,552 shares during the quarter. Intuit comprises about 2.4% of Global X Japan Co. Ltd.'s investment portfolio, making the stock its 14th biggest position. Global X Japan Co. Ltd.'s holdings in Intuit were worth $23,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. KMG Fiduciary Partners LLC increased its position in shares of Intuit by 1.8% during the second quarter. KMG Fiduciary Partners LLC now owns 771 shares of the software maker's stock worth $607,000 after buying an additional 14 shares during the period. Peloton Wealth Strategists grew its holdings in Intuit by 0.3% in the first 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 period. Decatur Capital Management Inc. grew its holdings in Intuit by 0.3% in the first 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 period. Financial Management Professionals Inc. grew its holdings in Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares during the period. Finally, Chris Bulman Inc grew its holdings in Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on INTU. Susquehanna restated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. UBS Group reduced their price target on shares of Intuit from $750.00 to $725.00 and set a "neutral" rating for the company in a report on Friday, August 22nd. Zacks Research cut shares of Intuit from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Evercore ISI lifted their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, Piper Sandler reiterated an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $797.62.

Intuit Stock Up 1.9%

INTU opened at $687.92 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. The company's 50-day moving average is $715.45 and its 200 day moving average is $685.06. 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 capitalization of $191.79 billion, a P/E ratio of 50.07, a PEG ratio of 2.61 and a beta of 1.26.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly 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. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the firm earned $1.99 earnings per share. The firm's revenue was up 20.3% on a year-over-year basis. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. Research analysts expect 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. Shareholders of record on Thursday, October 9th will be given a $1.20 dividend. This is a positive change from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Intuit's payout ratio is presently 30.28%.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 42 shares of Intuit stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $664.99, for a total value of $27,929.58. Following the sale, the chief financial officer owned 831 shares of the company's stock, valued at approximately $552,606.69. The trade was a 4.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,879 shares of company stock valued at $7,558,613. Company insiders own 2.68% of the company's stock.

Intuit Profile

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.