HB Wealth Management LLC Trims Position in Intuit Inc. $INTU

Key Points

• HB Wealth Management LLC cut its Intuit stake by 39.3% in the first quarter, selling 5,340 shares and ending with 8,258 shares worth about $3.57 million.
• Intuit reported strong quarterly results, with EPS of $12.80 and revenue of $8.56 billion, both slightly above analyst expectations and up 10.4% from a year earlier.
• The company also declared a quarterly dividend of $1.20 per share, while analysts currently rate the stock a “Moderate Buy” with an average price target of $498.40.

HB Wealth Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 39.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,258 shares of the software maker's stock after selling 5,340 shares during the quarter. HB Wealth Management LLC's holdings in Intuit were worth $3,571,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of INTU. Brighton Jones LLC lifted its position in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after buying an additional 1,350 shares during the period. Revolve Wealth Partners LLC grew its holdings in Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after buying an additional 482 shares during the period. Nicholas Hoffman & Company LLC. purchased a new stake in Intuit in the 1st quarter valued at about $785,564,000. Sivia Capital Partners LLC increased its stake in shares of Intuit by 23.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 886 shares of the software maker's stock valued at $698,000 after acquiring an additional 166 shares during the last quarter. Finally, Florida Financial Advisors LLC increased its stake in shares of Intuit by 12.2% during the 2nd quarter. Florida Financial Advisors LLC now owns 470 shares of the software maker's stock valued at $370,000 after acquiring an additional 51 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other news, Director Richard L. Dalzell sold 284 shares of the firm's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the transaction, the director owned 11,758 shares of the company's stock, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 500 shares of Intuit stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $309.71 per share, for a total transaction of $154,855.00. Following the acquisition, the director directly owned 1,750 shares in the company, valued at approximately $541,992.50. This represents a 40.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 1,239 shares of company stock valued at $348,354 in the last three months. Company insiders own 2.49% of the company's stock.

Intuit Stock Performance

Intuit stock opened at $275.35 on Monday. The company has a market cap of $75.32 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $813.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The stock's 50-day moving average is $325.83 and its 200-day moving average is $432.20.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $12.57 by $0.23. The business had revenue of $8.56 billion during the quarter, compared to analysts' expectations of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.During the same quarter in the previous year, the business earned $11.65 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Equities analysts anticipate that Intuit Inc. will post 18.19 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be given a $1.20 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Intuit's dividend payout ratio is presently 29.07%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INTU shares. Citigroup decreased their target price on shares of Intuit from $649.00 to $591.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Bank of America assumed coverage on shares of Intuit in a research report on Wednesday, May 27th. They set a "buy" rating and a $400.00 price target for the company. Argus cut their price target on shares of Intuit from $580.00 to $480.00 and set a "buy" rating on the stock in a research note on Friday, May 22nd. Susquehanna decreased their price target on shares of Intuit from $640.00 to $550.00 and set a "positive" rating on the stock in a report on Friday, May 22nd. Finally, Erste Group Bank raised shares of Intuit to a "hold" rating in a research note on Monday, April 27th. Twenty-two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average price target of $498.40.

About Intuit

Intuit Inc NASDAQ: INTU is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit's product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

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