Intuit Inc. $INTU Stake Lifted by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System dramatically increased its Intuit stake by adding more than 107.9 million shares in the second quarter, bringing its holdings to 108.3 million shares, or approximately 39.6% of the company.
• Intuit beat quarterly expectations, reporting $4.03 in adjusted EPS and $4.35 billion in revenue, up 13.7% year over year. The company also raised its quarterly dividend from $1.20 to $1.38 per share.
• Analyst sentiment remains mixed: Intuit has a consensus “Hold” rating and an average price target of $434.68, despite several firms maintaining “Buy” ratings after lowering their targets.

California State Teachers Retirement System grew its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 25,506.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,342,405 shares of the software maker's stock after acquiring an additional 107,919,292 shares during the quarter. California State Teachers Retirement System owned about 39.61% of Intuit worth $28,277,368,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Fiduciary Financial Advisors bought a new position in Intuit in the 2nd quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management bought a new stake in Intuit during the 4th quarter valued at $25,000. Osbon Capital Management LLC bought a new stake in Intuit during the 2nd quarter valued at $26,000. MidFirst Bank bought a new position in shares of Intuit in the second quarter worth $28,000. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker's stock valued at $30,000 after purchasing an additional 30 shares during the period. Institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other news, CAO Lauren Hotz sold 907 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total transaction of $314,311.78. Following the transaction, the chief accounting officer directly 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 legal filing with the SEC, which is available at this link. Also, Director Richard Dalzell sold 284 shares of Intuit stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the sale, the director directly owned 11,758 shares of the company's stock, valued at approximately $3,084,358.56. The trade was a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,813 shares of company stock valued at $563,548 in the last three months. Company insiders own 2.49% of the company's stock.

Intuit Stock Performance

NASDAQ:INTU opened at $332.70 on Tuesday. The stock has a fifty day simple moving average of $317.16 and a 200 day simple moving average of $353.74. The firm has a market capitalization of $91.01 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $705.08. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.34.

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

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Thursday, October 8th will be paid a dividend of $1.38 per share. This is an increase from Intuit's previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.7%. Intuit's dividend payout ratio (DPR) is 29.09%.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Intuit from $550.00 to $500.00 and set a "buy" rating for the company in a report on Sunday, August 23rd. Northcoast Research dropped their target price on Intuit from $575.00 to $465.00 and set a "buy" rating on the stock in a report on Thursday, May 21st. Weiss Ratings downgraded Intuit from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 11th. Freedom Capital lowered Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Intuit from $530.00 to $425.00 and set a "buy" rating on the stock in a research report on Wednesday, August 19th. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $434.68.

Intuit Company Profile

Intuit Inc NASDAQ: INTU is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities, and TurboTax, a tax-preparation and filing service aimed at individual taxpayers. In addition to these core offerings, Intuit has expanded through acquisitions to provide complementary services such as Credit Karma (consumer credit and financial-product marketplace) and Mailchimp (marketing and commerce tools), and it offers professional-grade tax solutions for accountants and tax preparers.

The company serves a mix of consumers, small and mid-sized businesses and accounting professionals across multiple markets, with a particularly large presence in the United States and an expanding international footprint.

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