Intuit Inc. $INTU Shares Purchased by National Pension Service

Key Points

• National Pension Service increased its Intuit stake by 8.6% in the second quarter, purchasing 55,375 additional shares and bringing its holdings to 700,231 shares valued at approximately $182.8 million. Institutional investors collectively own 83.66% of Intuit.
• Analyst sentiment remains mixed, with 17 Buy, 11 Hold, and 3 Sell ratings; the consensus rating is Hold with a $434.68 price target. Intuit recently exceeded quarterly earnings and revenue expectations, reporting $4.03 EPS and $4.35 billion in revenue.
• Intuit raised its quarterly dividend to $1.38 per share, up from $1.20, implying an annualized dividend of $5.52 and a 1.8% yield. The stock opened at $312.77, well below its 52-week high of $705.08.

National Pension Service boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 700,231 shares of the software maker's stock after acquiring an additional 55,375 shares during the quarter. National Pension Service owned about 0.26% of Intuit worth $182,760,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in INTU. Rakuten Investment Management Inc. grew its holdings in Intuit by 522.3% in the fourth quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker's stock valued at $34,852,000 after purchasing an additional 43,389 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Intuit by 20.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker's stock valued at $1,848,954,000 after acquiring an additional 471,451 shares during the last quarter. Vestcor Inc increased its holdings in Intuit by 79.1% during the 4th quarter. Vestcor Inc now owns 20,717 shares of the software maker's stock valued at $13,723,000 after acquiring an additional 9,148 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Intuit by 119.5% during the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker's stock worth $37,452,000 after acquiring an additional 47,148 shares during the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of Intuit in the second quarter valued at about $1,643,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTU has been the subject of a number of recent research reports. Rothschild & Co Redburn dropped their price objective on shares of Intuit from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, June 2nd. Piper Sandler raised their price target on Intuit from $250.00 to $290.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft cut their price target on Intuit from $530.00 to $425.00 and set a "buy" rating for the company in a report on Wednesday, August 19th. Stifel Nicolaus set a $300.00 price objective on Intuit in a research note on Wednesday, August 26th. Finally, Royal Bank Of Canada dropped their price objective on Intuit from $600.00 to $500.00 and set an "outperform" rating for the company in a research report on Thursday, May 21st. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $434.68.

Insider Activity

In other Intuit news, CAO Lauren Hotz sold 907 shares of Intuit stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the sale, the chief accounting officer owned 1,628 shares in the company, valued at $564,167.12. The trade was a 35.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $92,727.60. Following the transaction, the director directly owned 11,531 shares of the company's stock, valued at approximately $3,751,726.16. This represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,760 shares of company stock valued at $561,683 in the last 90 days. 2.49% of the stock is owned by company insiders.

Intuit Stock Down 0.4%

INTU stock opened at $312.77 on Friday. The company has a 50 day moving average price of $320.01 and a two-hundred day moving average price of $352.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.45 and a current ratio of 1.51. The stock has a market capitalization of $85.56 billion, a P/E ratio of 18.96, a PEG ratio of 0.90 and a beta of 0.98. Intuit Inc. has a one year low of $252.84 and a one year high of $705.08.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.45. Intuit had a return on equity of 25.97% and a net margin of 21.29%.The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the company posted $2.75 EPS. The business's revenue for the quarter was up 13.7% compared to the same quarter last year. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 23.49 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Thursday, October 8th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, October 8th. This is a positive change from Intuit's previous quarterly dividend of $1.20. Intuit's dividend payout ratio is 29.09%.

Intuit Profile

Intuit Inc is a financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, tax obligations and customer relationships. The company is headquartered in Mountain View, California, and serves customers primarily in the United States and Canada, with additional international availability for certain products.

Its principal offerings include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, invoicing, payroll and payments tools for small businesses and self-employed individuals; Credit Karma, a personal finance platform offering credit monitoring and related financial products; and Mailchimp, an email marketing and customer engagement service for businesses.

Intuit was founded in 1983 by Scott Cook and Tom Proulx.

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