Intuit Inc. $INTU Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 49.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,311 shares of the software maker's stock after selling 332,752 shares during the period. Pictet Asset Management Holding SA owned 0.13% of Intuit worth $93,407,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in INTU. Plancorp LLC bought a new stake in shares of Intuit during the third quarter valued at approximately $171,000. Alps Advisors Inc. grew its holdings in Intuit by 113.5% in the 3rd quarter. Alps Advisors Inc. now owns 16,974 shares of the software maker's stock worth $4,680,000 after buying an additional 9,023 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in Intuit by 4.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,716 shares of the software maker's stock worth $749,000 after buying an additional 118 shares in the last quarter. CenterBook Partners LP increased its position in Intuit by 47.1% in the 3rd quarter. CenterBook Partners LP now owns 5,788 shares of the software maker's stock valued at $1,596,000 after acquiring an additional 1,852 shares during the period. Finally, International Assets Investment Management LLC increased its position in Intuit by 32.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,864 shares of the software maker's stock valued at $527,000 after acquiring an additional 459 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

NASDAQ INTU opened at $338.23 on Tuesday. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $682.27. The firm has a market capitalization of $90.39 billion, a PE ratio of 20.50, a P/E/G ratio of 1.18 and a beta of 0.91. The company's 50 day simple moving average is $318.21 and its 200 day simple moving average is $356.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51.

Intuit (NASDAQ:INTU - Get Free Report) last released its 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. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. Intuit had a return on equity of 25.97% and a net margin of 21.29%. The firm's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm 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. As a group, equities research analysts forecast that Intuit Inc. will post 23.02 EPS for the current fiscal year.

Intuit Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INTU. Piper Sandler lifted their target price on Intuit from $250.00 to $290.00 and gave the company an "underweight" rating in a research note on Wednesday, August 26th. Mizuho reissued an "outperform" rating and issued a $430.00 price target on shares of Intuit in a research note on Friday, September 18th. Oppenheimer lowered their price target on Intuit from $406.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, August 26th. Jefferies Financial Group cut their price objective on shares of Intuit from $550.00 to $500.00 and set a "buy" rating on the stock in a research note on Sunday, August 23rd. Finally, Evercore restated an "outperform" rating on shares of Intuit in a research note on Friday, September 18th. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $431.68.

Insider Transactions at Intuit

In other news, Director Richard Dalzell sold 285 shares of the firm'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 completion of the transaction, the director owned 11,531 shares in the company, valued at approximately $3,751,726.16. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of Intuit stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the completion of the transaction, the chief accounting officer directly owned 1,628 shares in the company, valued at $564,167.12. This represents a 35.78% decrease in their position. The SEC filing for this sale provides additional information. 2.49% of the stock is currently owned by corporate insiders.

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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