Guinness Asset Management LTD Buys 3,554 Shares of Intuit Inc. $INTU

Key Points

• Guinness Asset Management LTD has increased its stake in Intuit Inc. by 5.3%, now owning a total of 70,908 shares valued at approximately $43.52 million.
• Intuit recently raised its quarterly dividend to $1.20 per share, signifying a boost from its previous $1.04 dividend, with a new yield of 0.7%.
• Analysts have varied opinions on Intuit's stock, with Goldman Sachs raising its target price to $860.00 while Zacks Research downgraded it from a "strong-buy" to a "hold" rating.

Guinness Asset Management LTD grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,908 shares of the software maker's stock after buying an additional 3,554 shares during the quarter. Intuit accounts for approximately 0.8% of Guinness Asset Management LTD's portfolio, making the stock its 28th largest holding. Guinness Asset Management LTD's holdings in Intuit were worth $43,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Peloton Wealth Strategists grew its stake in shares of Intuit by 0.3% during the first quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker's stock valued at $2,710,000 after buying an additional 15 shares during the last quarter. Decatur Capital Management Inc. grew its stake in shares of Intuit by 0.3% during the first quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker's stock valued at $3,069,000 after buying an additional 16 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after buying an additional 18 shares during the last quarter. Chris Bulman Inc grew its stake in shares of Intuit by 1.2% during the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after buying an additional 18 shares during the last quarter. Finally, Cascade Investment Group Inc. grew its stake in shares of Intuit by 0.8% during the first quarter. Cascade Investment Group Inc. now owns 2,413 shares of the software maker's stock valued at $1,482,000 after buying an additional 18 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the transaction, the executive vice president owned 19 shares of the company's stock, valued at $14,704.10. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,879 shares of company stock valued at $7,558,613 over the last ninety days. 2.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INTU. The Goldman Sachs Group raised their target price on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Wells Fargo & Company set a $880.00 target price on Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. Zacks Research cut Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Piper Sandler reissued an "overweight" rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, CLSA began coverage on Intuit in a research note on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price on the stock. One 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $797.62.

Intuit Stock Performance

Shares of INTU opened at $660.52 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. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The company has a 50-day simple moving average of $728.22 and a two-hundred day simple moving average of $682.44. The firm has a market capitalization of $184.16 billion, a PE ratio of 48.07, a price-to-earnings-growth ratio of 2.53 and a beta of 1.26.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping 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 period last year, the business posted $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. On average, analysts anticipate that Intuit Inc. will post 14.09 EPS 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 issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 0.7%. This is a boost from Intuit's previous quarterly dividend of $1.04. The ex-dividend date is Thursday, October 9th. Intuit's dividend payout ratio (DPR) is 34.93%.

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.

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