Intuit Inc. $INTU Shares Bought by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Intuit holdings by 1,204.2% in the third quarter, ending with 17,450 shares valued at approximately $4.68 million. Institutional investors overall own 83.66% of the company’s stock.
• Intuit beat quarterly earnings and revenue expectations, reporting EPS of $4.03 and revenue of $4.35 billion; revenue rose 13.7% year over year. The company also raised its quarterly dividend from $1.20 to $1.38 per share.
• Analyst views are mixed: MarketBeat reports a consensus “Hold” rating and an average price target of $431.68, with 16 Buy, 13 Hold, and 2 Sell ratings.

Fulcrum Asset Management LLP lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1,204.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,450 shares of the software maker's stock after purchasing an additional 16,112 shares during the quarter. Fulcrum Asset Management LLP's holdings in Intuit were worth $4,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Financial Advisors acquired a new position in Intuit in the second quarter valued at $25,000. Osbon Capital Management LLC purchased a new position in shares of Intuit during the 2nd quarter worth about $26,000. MidFirst Bank purchased a new position in shares of Intuit during the 2nd quarter worth about $28,000. James T. Borello RIA lifted its holdings in shares of Intuit by 350.0% during the 3rd quarter. James T. Borello RIA now owns 108 shares of the software maker's stock worth $30,000 after acquiring an additional 84 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Intuit in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Down 1.0%

INTU stock opened at $338.23 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $318.21 and a 200-day simple moving average of $356.20. The company has a market capitalization of $90.39 billion, a P/E ratio of 20.50, a PEG ratio of 1.18 and a beta of 0.91. Intuit Inc. has a twelve month low of $252.84 and a twelve month high of $682.27.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.45. The firm had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.27 billion. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The firm's quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.75 earnings per share. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. On average, equities research analysts predict that Intuit Inc. will post 23.02 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, October 8th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, October 8th. This is an increase from Intuit's previous quarterly dividend of $1.20. Intuit's payout ratio is presently 33.45%.

Insider Activity

In other news, Director Richard Dalzell sold 285 shares of the company's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total value of $92,727.60. Following the sale, the director owned 11,531 shares in the company, valued at approximately $3,751,726.16. This represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the transaction, the chief accounting officer directly owned 1,628 shares in the company, valued at $564,167.12. The trade was a 35.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on INTU. Citigroup dropped their price target on shares of Intuit from $591.00 to $457.00 and set a "buy" rating for the company in a research report on Thursday, August 13th. Royal Bank Of Canada restated an "outperform" rating and issued a $385.00 price target on shares of Intuit in a report on Friday, October 2nd. Wolfe Research downgraded shares of Intuit from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, August 26th. Piper Sandler lifted their price target on shares of Intuit from $250.00 to $290.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 26th. Finally, TD Cowen upped their price objective on shares of Intuit from $346.00 to $350.00 and gave the company a "hold" rating in a research report on Monday. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of "Hold" and an average price target of $431.68.

Intuit Company Profile

Intuit Inc develops financial management and business software for consumers, small businesses, and accounting professionals. Its products and services help users manage personal finances, prepare taxes, run businesses, handle payments, and support marketing activities.

Its offerings include TurboTax for tax preparation, QuickBooks for accounting and business management, Credit Karma for personal finance, and Mailchimp for email marketing and customer engagement. Intuit serves customers in the United States and other markets around the world.

Founded in 1983 by Scott Cook and Tom Proulx, Intuit is headquartered in Mountain View, California.

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