MAI Capital Management Sells 420 Shares of Intuit Inc. $INTU

Key Points

• MAI Capital Management has decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 2.8%, selling 420 shares and now owning 14,611 shares valued at approximately $8.97 million.
• Intuit recently announced a quarterly dividend increase from $1.04 to $1.20, with a yield of 0.7%, to be paid on October 17th.
• Analyst sentiment on the stock is predominantly positive, with an average target price of $797.62 and ratings including one Strong Buy, twenty Buys, three Holds, and one Sell.

MAI Capital Management cut its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,611 shares of the software maker's stock after selling 420 shares during the quarter. MAI Capital Management's holdings in Intuit were worth $8,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock valued at $16,780,536,000 after acquiring an additional 294,993 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Intuit by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock valued at $5,537,435,000 after acquiring an additional 649,212 shares during the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 6.8% in the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock valued at $3,472,266,000 after acquiring an additional 358,328 shares during the last quarter. Brown Advisory Inc. boosted its stake in Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after acquiring an additional 252,265 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after acquiring an additional 36,513 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTU shares. JPMorgan Chase & Co. dropped their target price on shares of Intuit from $770.00 to $750.00 and set an "overweight" rating on the stock in a research note on Friday, August 22nd. BMO Capital Markets boosted their target price on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. UBS Group dropped their target price on shares of Intuit from $750.00 to $725.00 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. KeyCorp dropped their target price on shares of Intuit from $850.00 to $825.00 and set an "overweight" rating on the stock in a research note on Friday, August 22nd. Finally, Evercore ISI boosted their price target on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $797.62.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the sale, the executive vice president owned 19 shares of the company's stock, valued at approximately $14,704.10. This represents a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the sale, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,488 shares of company stock worth $56,356,595 in the last ninety days. Insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $6.69 during midday trading on Wednesday, hitting $668.68. The company's stock had a trading volume of 1,979,251 shares, compared to its average volume of 2,098,216. The stock has a fifty day moving average price of $741.67 and a 200 day moving average price of $678.72. 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 market capitalization of $186.53 billion, a price-to-earnings ratio of 48.67, a P/E/G ratio of 2.57 and a beta of 1.26. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last posted its 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 business had revenue of $3.83 billion for 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%. Intuit's revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm 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, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal 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. This is a boost from Intuit's previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Thursday, October 9th. This represents a $4.80 dividend on an annualized basis and a yield of 0.7%. Intuit's payout ratio is currently 30.28%.

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.