Comerica Bank Has $53.60 Million Holdings in Intuit Inc. $INTU

Key Points

• Comerica Bank has reduced its stake in Intuit Inc. by 2.1% in the first quarter, now holding 87,298 shares valued at approximately $53.6 million.
• Insider trading activity includes sales by EVP Alex G. Balazs and CAO Lauren D. Hotz, with insiders collectively selling 279,800 shares worth over $209 million last quarter.
• Despite a recent decline of 5.0% in stock price, Intuit reported strong quarterly earnings, beating estimates with $2.75 EPS and $3.83 billion in revenue.

Comerica Bank reduced its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,298 shares of the software maker's stock after selling 1,911 shares during the period. Comerica Bank's holdings in Intuit were worth $53,600,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INTU. Decatur Capital Management Inc. boosted its holdings in shares of Intuit by 0.3% in the 1st quarter. Decatur Capital Management Inc. now owns 4,999 shares of the software maker's stock valued at $3,069,000 after purchasing an additional 16 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after purchasing an additional 18 shares during the last quarter. Chris Bulman Inc boosted its holdings in shares of Intuit by 1.2% in the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after purchasing an additional 18 shares during the last quarter. Kolinsky Wealth Management LLC boosted its holdings in shares of Intuit by 1.6% in the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after purchasing an additional 19 shares during the last quarter. Finally, Norden Group LLC boosted its holdings in shares of Intuit by 1.2% in the 1st quarter. Norden Group LLC now owns 1,663 shares of the software maker's stock valued at $1,021,000 after purchasing an additional 19 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Sandeep Aujla sold 2,591 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the completion of the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. This represents a 77.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Insiders sold 107,817 shares of company stock valued at $82,475,471 over the last quarter. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on INTU. Susquehanna reissued a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. UBS Group dropped their target price on shares of Intuit from $750.00 to $725.00 and set a "neutral" rating for the company in a research report on Friday, August 22nd. CLSA started coverage on shares of Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target for the company. Oppenheimer lifted their price target on shares of Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, KeyCorp decreased their price target on shares of Intuit from $850.00 to $825.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $797.62.

Intuit Stock Performance

Intuit stock traded up $5.03 during midday trading on Thursday, reaching $668.20. 2,069,382 shares of the stock traded hands, compared to its average volume of 1,824,197. The company has a current ratio of 1.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $750.92 and a two-hundred day moving average price of $675.88. The firm has a market cap of $186.39 billion, a price-to-earnings ratio of 48.63, a PEG ratio of 2.58 and a beta of 1.28. 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 issued its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.75 billion. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 EPS. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current 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 issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, October 9th. This is an increase 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%. Intuit's dividend payout ratio is presently 30.28%.

About Intuit

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.