Moran Wealth Management LLC Lowers Stock Holdings in Intuit Inc. $INTU

Key Points

• Moran Wealth Management LLC has reduced its stake in Intuit Inc. by 2.5%, selling 963 shares in the second quarter, now holding a total of 37,460 shares worth approximately $29.5 million.
• While some funds like Dogwood Wealth Management LLC increased their stake significantly, 83.66% of Intuit's stock is currently owned by institutional investors and hedge funds.
• Intuit has recently announced a quarterly dividend increase from $1.04 to $1.20 per share, with the ex-dividend date set for October 9th.

Moran Wealth Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,460 shares of the software maker's stock after selling 963 shares during the quarter. Intuit accounts for approximately 0.9% of Moran Wealth Management LLC's holdings, making the stock its 20th biggest position. Moran Wealth Management LLC's holdings in Intuit were worth $29,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of INTU. Dogwood Wealth Management LLC increased its stake in shares of Intuit by 111.8% during the second quarter. Dogwood Wealth Management LLC now owns 36 shares of the software maker's stock worth $28,000 after acquiring an additional 19 shares during the period. RMG Wealth Management LLC acquired a new position in shares of Intuit during the second quarter worth about $37,000. CBIZ Investment Advisory Services LLC boosted its holdings in Intuit by 1,566.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 50 shares of the software maker's stock valued at $31,000 after purchasing an additional 47 shares in the last quarter. TD Capital Management LLC boosted its holdings in Intuit by 511.1% in the 1st quarter. TD Capital Management LLC now owns 55 shares of the software maker's stock valued at $34,000 after purchasing an additional 46 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in Intuit in the 1st quarter valued at approximately $37,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $661.15, for a total transaction of $220,162.95. Following the sale, the director owned 14,475 shares in the company, valued at approximately $9,570,146.25. This represents a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott D. Cook sold 529 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $664.99, for a total value of $351,779.71. Following the sale, the director owned 6,162,547 shares in the company, valued at approximately $4,098,032,129.53. This trade represents a 0.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,407 shares of company stock valued at $1,614,913 in the last ninety days. Corporate insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price target on Intuit from $850.00 to $800.00 and set a "buy" rating for the company in a report on Friday, August 22nd. Oppenheimer increased their price objective on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $850.00 price objective on shares of Intuit in a research report on Tuesday, September 2nd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Intuit in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $791.82.

Intuit Stock Up 2.2%

Intuit stock opened at $655.68 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $182.80 billion, a price-to-earnings ratio of 47.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The stock's fifty day moving average is $684.34 and its two-hundred day moving average is $694.59.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the firm earned $1.99 EPS. The business's revenue for the quarter 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. Analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be paid a dividend of $1.20 per share. This is a positive change 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 dividend yield of 0.7%. Intuit's dividend payout ratio is 34.93%.

About Intuit

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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