Merit Financial Group LLC Grows Stock Position in Intuit Inc. $INTU

Key Points

• Merit Financial Group LLC increased its stake in Intuit Inc. by 56.8% during the 2nd quarter, holding a total of 8,719 shares valued at approximately $6.87 million.
• Intuit recently declared a quarterly dividend of $1.20 per share, an increase from the previous $1.04, with an annualized dividend yield of 0.7% and a payout ratio of 34.93%.
• The company's latest earnings report showed a quarterly revenue of $3.83 billion, surpassing estimates, with earnings per share of $2.75, reflecting a year-over-year revenue growth of 20.3%.

Merit Financial Group LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 56.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,719 shares of the software maker's stock after purchasing an additional 3,157 shares during the quarter. Merit Financial Group LLC's holdings in Intuit were worth $6,868,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Keudell Morrison Wealth Management purchased a new stake in shares of Intuit during the second quarter worth approximately $244,000. Alta Wealth Advisors LLC raised its stake in shares of Intuit by 34.0% during the second quarter. Alta Wealth Advisors LLC now owns 658 shares of the software maker's stock worth $519,000 after purchasing an additional 167 shares during the last quarter. Marietta Wealth Management LLC raised its stake in shares of Intuit by 1.5% during the second quarter. Marietta Wealth Management LLC now owns 12,747 shares of the software maker's stock worth $10,040,000 after purchasing an additional 188 shares during the last quarter. Simplicity Wealth LLC raised its stake in shares of Intuit by 209.2% during the second quarter. Simplicity Wealth LLC now owns 1,620 shares of the software maker's stock worth $1,276,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Brown Miller Wealth Management LLC purchased a new stake in shares of Intuit during the second quarter worth approximately $329,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Down 0.3%

Shares of INTU stock opened at $679.94 on Monday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The stock has a market cap of $189.57 billion, a PE ratio of 49.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The business's fifty day moving average is $700.95 and its 200-day moving average is $692.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The company had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same period last year, the firm earned $1.99 EPS. The firm's revenue for the quarter was up 20.3% on a year-over-year basis. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. Equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be given a dividend of $1.20 per share. This is a boost from Intuit's previous quarterly dividend of $1.04. The ex-dividend date is Thursday, October 9th. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. Intuit's payout ratio is 34.93%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Intuit in a report on Saturday, September 27th. Bank of America reduced their price objective on Intuit from $875.00 to $800.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. BMO Capital Markets increased their target price on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Zacks Research lowered Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, CLSA began coverage on Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $791.82.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 42 shares of Intuit stock in a transaction on Monday, August 25th. The stock was sold at an average price of $664.99, for a total value of $27,929.58. Following the transaction, the chief financial officer directly owned 831 shares in the company, valued at $552,606.69. The trade was a 4.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott D. Cook sold 529 shares of Intuit stock in a transaction on Monday, August 25th. The stock was sold at an average price of $664.99, for a total value of $351,779.71. Following the completion of the transaction, the director owned 6,162,547 shares in the company, valued at $4,098,032,129.53. The trade was a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,785 shares of company stock valued at $2,029,299. Insiders own 2.68% of the company's stock.

Intuit 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.

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