Norges Bank Takes $3.06 Billion Position in Intuit Inc. $INTU

Key Points

• Norges Bank disclosed a new stake in Intuit, buying 4.62 million shares valued at about $3.06 billion, giving it roughly 1.66% ownership of the company.
• Intuit continues to attract analyst support, with Bank of America reiterating a Buy rating even as several firms cut price targets after the company reduced guidance. The stock still carries a Moderate Buy consensus rating overall.
• Recent business updates were mixed: Intuit reported better-than-expected quarterly earnings and revenue and expanded its Mailchimp AI tools and integrations, but it is also facing a securities-fraud investigation that could pressure shares.

Norges Bank purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,617,021 shares of the software maker's stock, valued at approximately $3,058,407,000. Norges Bank owned about 1.66% of Intuit as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in INTU. Joseph Group Capital Management purchased a new position in shares of Intuit in the fourth quarter worth approximately $25,000. MTM Investment Management LLC boosted its holdings in shares of Intuit by 135.0% in the third quarter. MTM Investment Management LLC now owns 47 shares of the software maker's stock worth $32,000 after buying an additional 27 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in shares of Intuit in the third quarter worth approximately $33,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in shares of Intuit by 54.3% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the software maker's stock worth $36,000 after buying an additional 19 shares during the last quarter. Finally, Steph & Co. boosted its holdings in shares of Intuit by 346.2% in the fourth quarter. Steph & Co. now owns 58 shares of the software maker's stock worth $38,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Trending Headlines about Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Bank of America reportedly reinstated a Buy rating on Intuit, which can help support sentiment and signal that Wall Street still sees long-term value in the shares.
• Positive Sentiment: Intuit expanded Mailchimp AI tools and integrations, including Analytics AI and connections with platforms like Shopify, Canva, Wix, WooCommerce, and Claude, reinforcing the company’s AI growth narrative and small-business software momentum. Article: Intuit Expands Mailchimp AI Tools And Integrations For Small Business Growth
• Positive Sentiment: Commentary highlighting how Intuit is overcoming fears of AI disruption may reassure investors that AI is acting more as a tailwind than a threat to its core software franchises. Article: Here’s How Intuit (INTU) is Overcoming the Fears of AI Disruption
• Neutral Sentiment: Articles comparing Intuit vs. PayPal frame INTU as a strong fintech/software contender, but they are more of an industry comparison than a direct catalyst. Article: Intuit vs. PayPal: Which Fintech Stock Is the Better Buy Now?
• Neutral Sentiment: Intuit is also getting more analyst and investor attention after its earnings call and recent coverage, but these items mainly keep the stock in focus rather than changing the fundamental story.
• Negative Sentiment: Multiple law firms and a securities-fraud investigation were announced, alleging possible pricing-related issues and false or misleading statements. That legal pressure could weigh on the shares and keep volatility elevated. Article: INTU Securities News: Intuit Investigated for Securities Fraud Over Pricing Issues
• Negative Sentiment: Argus lowered its price target on Intuit to $480 from $580 after the company reduced guidance, suggesting some near-term caution despite keeping a Buy rating.

Insider Buying and Selling at Intuit

In related news, Director Vasant M. Prabhu bought 1,250 shares of the stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $309.45 per share, with a total value of $386,812.50. Following the completion of the acquisition, the director owned 1,250 shares of the company's stock, valued at $386,812.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $440.40, for a total transaction of $146,653.20. Following the completion of the transaction, the director directly owned 13,253 shares in the company, valued at $5,836,621.20. This trade represents a 2.45% decrease in their position. The SEC filing for this sale provides additional information. 2.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

INTU has been the topic of a number of research reports. Barclays dropped their price objective on shares of Intuit from $540.00 to $443.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Jefferies Financial Group dropped their price objective on shares of Intuit from $650.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, May 21st. Weiss Ratings raised shares of Intuit from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Bank of America initiated coverage on shares of Intuit in a report on Wednesday. They issued a "buy" rating and a $400.00 price objective on the stock. Finally, Oppenheimer dropped their price objective on shares of Intuit from $558.00 to $406.00 and set an "outperform" rating on the stock in a report on Thursday, May 21st. Twenty-four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $525.65.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $331.53 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 1-year low of $300.50 and a 1-year high of $813.70. The company has a market capitalization of $90.69 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.18 and a beta of 1.04. The firm's 50 day simple moving average is $390.41 and its two-hundred day simple moving average is $498.50.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the previous year, the firm earned $11.65 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Research analysts expect that Intuit Inc. will post 17.6 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, July 9th. Intuit's payout ratio is 29.07%.

Intuit Profile

Intuit Inc NASDAQ: INTU is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit's product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.