Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Intuit Inc. $INTU

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has increased its stake in Intuit Inc. by 2.5% during the 2nd quarter, bringing its total holdings to 54,871 shares valued at approximately $43.2 million.
• Intuit recently reported earnings of $2.75 per share for the last quarter, exceeding estimates and showcasing a 20.3% year-over-year revenue increase.
• The company has announced an increase in its quarterly dividend from $1.04 to $1.20 per share, indicating a strong commitment to returning value to shareholders.

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 54,871 shares of the software maker's stock after buying an additional 1,314 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Intuit were worth $43,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock valued at $16,780,536,000 after buying an additional 294,993 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Intuit by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock valued at $5,537,435,000 after buying an additional 649,212 shares during the period. Wellington Management Group LLP increased its stake in shares of Intuit by 6.8% in the 1st quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock valued at $3,472,266,000 after buying an additional 358,328 shares during the period. Brown Advisory Inc. grew its stake in shares of Intuit by 7.9% during the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after purchasing an additional 252,265 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Intuit by 1.2% during the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after purchasing an additional 36,513 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Up 1.9%

INTU stock traded up $12.96 during mid-day trading on Friday, reaching $687.92. 4,062,723 shares of the company traded hands, compared to its average volume of 2,166,550. The stock has a market cap of $191.80 billion, a price-to-earnings ratio of 50.07, a P/E/G ratio of 2.66 and a beta of 1.26. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The firm's 50 day moving average price is $715.45 and its 200 day moving average price is $685.53. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the business earned $1.99 earnings per share. Intuit's revenue for the quarter 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. As a group, equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Thursday, October 9th will be paid a $1.20 dividend. This is a boost from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Intuit's payout ratio is currently 34.93%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group decreased their price objective on Intuit from $750.00 to $725.00 and set a "neutral" rating for the company in a research note on Friday, August 22nd. JPMorgan Chase & Co. decreased their price objective on Intuit from $770.00 to $750.00 and set an "overweight" rating for the company in a research note on Friday, August 22nd. Barclays decreased their price objective on Intuit from $815.00 to $785.00 and set an "overweight" rating for the company in a research note on Friday, August 22nd. Oppenheimer lifted their price objective on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, CLSA initiated coverage on Intuit in a research note on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus target price of $797.62.

Insider Activity

In other news, EVP Alex G. Balazs sold 882 shares of the firm's 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the transaction, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders 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.