Intuit Inc. $INTU Shares Sold by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC cut its Intuit stake by 94.5% in the third quarter, selling 48,604 shares and retaining 2,818 shares worth approximately $777,000.
• Institutional ownership remains high at 83.66%, with major investors including BlackRock, Arrowstreet Capital, UBS Asset Management, Unisphere Establishment, and Amundi increasing or initiating positions.
• Intuit reported quarterly earnings of $4.03 per share and $4.35 billion in revenue, beating estimates, while raising its quarterly dividend to $1.38 per share. Analysts maintain a consensus “Hold” rating with an average price target of $431.55.

SteelPeak Wealth LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 94.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,818 shares of the software maker's stock after selling 48,604 shares during the period. SteelPeak Wealth LLC's holdings in Intuit were worth $777,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INTU. BlackRock Inc. bought a new position in Intuit during the second quarter valued at about $6,851,859,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Intuit by 102.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker's stock worth $1,684,795,000 after acquiring an additional 1,972,719 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 6.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,334,328 shares of the software maker's stock worth $870,260,000 after acquiring an additional 215,814 shares in the last quarter. Unisphere Establishment boosted its stake in shares of Intuit by 6.5% during the 1st quarter. Unisphere Establishment now owns 1,810,000 shares of the software maker's stock worth $782,608,000 after acquiring an additional 110,000 shares in the last quarter. Finally, Amundi increased its holdings in shares of Intuit by 44.9% during the 1st quarter. Amundi now owns 1,563,158 shares of the software maker's stock valued at $675,878,000 after acquiring an additional 484,602 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 0.1%

Intuit stock opened at $325.62 on Tuesday. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $689.17. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market capitalization of $87.02 billion, a PE ratio of 19.73, a PEG ratio of 0.95 and a beta of 1.01. The business's 50-day simple moving average is $320.98 and its 200-day simple moving average is $327.16.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $2.75 EPS. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Equities research analysts forecast that Intuit Inc. will post 23.02 earnings per share for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, October 8th were paid a $1.38 dividend. The ex-dividend date was Thursday, October 8th. This is a positive change from Intuit's previous quarterly dividend of $1.20. This represents a $5.52 annualized dividend and a dividend yield of 1.7%. Intuit's dividend payout ratio is 33.45%.

Insiders Place Their Bets

In other Intuit news, Director Richard L. Dalzell sold 285 shares of the firm's stock in a transaction on 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 directly owned 11,531 shares in the company, valued at $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 available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren D. Hotz sold 907 shares of the firm's stock in a transaction 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 sale, the chief accounting officer owned 1,628 shares in the company, valued at $564,167.12. This represents a 35.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.49% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent analyst reports. Truist Financial reissued a "hold" rating and issued a $300.00 price objective on shares of Intuit in a research note on Friday, September 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $385.00 target price on shares of Intuit in a research report on Friday, October 2nd. Barclays lowered their price target on Intuit from $443.00 to $408.00 and set an "overweight" rating on the stock in a report on Wednesday, August 26th. Evercore reissued an "outperform" rating on shares of Intuit in a research report on Friday, September 18th. Finally, Oppenheimer dropped their price target on shares of Intuit from $406.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $431.55.

Intuit Company Profile

Intuit Inc is a global financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, taxes and marketing. Its ecosystem combines financial management, tax preparation, accounting, payments and customer relationship tools.

The company's principal products include TurboTax for tax preparation, QuickBooks for accounting, invoicing, payroll and payments, Credit Karma for personal financial services, and Mailchimp for marketing automation and customer engagement.

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