Lord Abbett & CO. LLC Sells 467 Shares of Intuit Inc. $INTU

Key Points

• Lord Abbett & CO. LLC reduced its holdings in Intuit Inc. by 29.4%, owning 1,122 shares valued at $689,000 at the end of the most recent reporting period.
• Despite some selling activity, institutional investors collectively own approximately 83.66% of Intuit's stock, showcasing continued confidence in the company's performance.
• Recent analyst reports indicate a bullish outlook for Intuit, with many upgrades and a consensus target price of $809.86, reflecting anticipated strong earnings growth.

Lord Abbett & CO. LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 29.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,122 shares of the software maker's stock after selling 467 shares during the quarter. Lord Abbett & CO. LLC's holdings in Intuit were worth $689,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock worth $16,780,536,000 after acquiring an additional 294,993 shares in the last quarter. Brown Advisory Inc. raised its position in 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 acquiring an additional 252,265 shares in the last quarter. Northern Trust Corp raised its position in Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after acquiring an additional 498,030 shares in the last quarter. Invesco Ltd. raised its position in 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 acquiring an additional 36,513 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INTU. CLSA initiated coverage on shares of Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price for the company. BMO Capital Markets boosted their price objective on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. The Goldman Sachs Group lifted their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, Jefferies Financial Group set a $850.00 price objective on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and a consensus target price of $802.71.

Intuit Price Performance

INTU traded down $29.4450 on Friday, hitting $668.3150. 3,484,403 shares of the stock were exchanged, compared to its average volume of 1,790,115. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The business has a 50-day moving average of $758.91 and a two-hundred day moving average of $673.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $186.43 billion, a price-to-earnings ratio of 54.29, a PEG ratio of 2.69 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the prior year, the business posted $1.99 earnings per share. Intuit's revenue was up 20.3% compared to the same quarter last year. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. Sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Transactions at Intuit

In other news, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president owned 23,101 shares of the company's stock, valued at approximately $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the completion of the transaction, the executive vice president directly owned 40,767 shares of the company's stock, valued at $31,017,164.28. This trade represents a 45.71% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by company insiders.

Intuit Company 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.