Modern Wealth Management LLC Purchases 456 Shares of Intuit Inc. $INTU

Key Points

• Modern Wealth Management LLC increased its stake in Intuit Inc. by 104.6%, owning a total of 892 shares valued at $548,000 after acquiring 456 additional shares in the first quarter.
• Intuit's latest earnings report showed a 20.3% year-over-year increase in revenue, reporting $3.83 billion for the quarter, with earnings per share beating estimates by $0.09.
• The company announced a quarterly dividend boost from $1.04 to $1.20, reflecting a 0.7% yield and an anticipated payout for shareholders on October 17th.

Modern Wealth Management LLC boosted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 104.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 892 shares of the software maker's stock after acquiring an additional 456 shares during the period. Modern Wealth Management LLC's holdings in Intuit were worth $548,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in Intuit by 1.2% in the 1st 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Intuit by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock worth $1,130,718,000 after acquiring an additional 82,419 shares during the last quarter. Vident Advisory LLC grew its holdings in Intuit by 22.1% in the 1st quarter. Vident Advisory LLC now owns 46,940 shares of the software maker's stock worth $28,821,000 after acquiring an additional 8,510 shares during the last quarter. Circle Wealth Management LLC grew its holdings in Intuit by 33.4% in the 1st quarter. Circle Wealth Management LLC now owns 3,451 shares of the software maker's stock worth $2,119,000 after acquiring an additional 865 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after acquiring an additional 623 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Trading Down 2.2%

Shares of NASDAQ INTU opened at $646.03 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 $180.12 billion, a P/E ratio of 47.02, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26. The firm has a 50-day moving average of $725.50 and a 200 day moving average of $684.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick 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 analysts' consensus estimates of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The company had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same period last year, the company posted $1.99 EPS. Intuit's revenue 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. As a group, sell-side analysts expect 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. Shareholders of record on Thursday, October 9th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 0.7%. This is a boost from Intuit's previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Thursday, October 9th. Intuit's dividend payout ratio is presently 34.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INTU. Evercore ISI raised their target price on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Oppenheimer increased their price target on shares of Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. BMO Capital Markets raised their price objective on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. The Goldman Sachs Group raised their price objective on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Finally, Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average target price of $797.62.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of Intuit stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the transaction, the chief accounting officer directly owned 455 shares of the company's stock, valued at approximately $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott D. Cook sold 529 shares of Intuit stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $351,779.71. Following the completion of the transaction, the director directly owned 6,162,547 shares of the company's stock, valued at $4,098,032,129.53. This trade represents a 0.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,879 shares of company stock valued at $7,558,613. 2.68% of the stock is owned by company insiders.

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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