Intuit Inc. $INTU Stock Position Cut by Palestra Capital Management LLC

Key Points

• Palestra Capital Management LLC reduced its holdings in Intuit Inc. by 15.6% during the first quarter, selling 42,469 shares to hold 228,971 shares valued at approximately $140.6 million.
• Intuit is set to pay a quarterly dividend of $1.20 on October 17th, up from the previous $1.04, reflecting an annualized yield of 0.7%.
• Intuit reported a 20.3% year-over-year revenue increase in its recent earnings, beating analysts' expectations with a revenue of $3.83 billion and an EPS of $2.75.

Palestra Capital Management LLC cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,971 shares of the software maker's stock after selling 42,469 shares during the quarter. Intuit comprises approximately 5.5% of Palestra Capital Management LLC's holdings, making the stock its 8th largest holding. Palestra Capital Management LLC owned approximately 0.08% of Intuit worth $140,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of INTU. Brighton Jones LLC lifted its holdings in shares of Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after acquiring an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after purchasing an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after purchasing an additional 248 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Intuit by 2.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 36,889 shares of the software maker's stock worth $23,185,000 after purchasing an additional 813 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its stake in Intuit by 16.9% in the fourth quarter. Clark Capital Management Group Inc. now owns 7,122 shares of the software maker's stock worth $4,476,000 after purchasing an additional 1,028 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 882 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 42 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $664.99, for a total transaction of $27,929.58. Following the transaction, the chief financial officer owned 831 shares in the company, valued at approximately $552,606.69. This represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,213 shares of company stock worth $7,115,570. 2.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INTU. Stifel Nicolaus cut their target price on Intuit from $850.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $850.00 price objective on shares of Intuit in a report on Tuesday, September 2nd. UBS Group reduced their target price on Intuit from $750.00 to $725.00 and set a "neutral" rating on the stock in a research note on Friday, August 22nd. Morgan Stanley decreased their target price on Intuit from $900.00 to $880.00 and set an "overweight" rating for the company in a research report on Friday, August 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $797.62.

Intuit Stock Down 0.1%

NASDAQ INTU traded down $0.79 on Tuesday, reaching $670.89. 1,254,198 shares of the stock traded hands, compared to its average volume of 2,090,479. 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 company has a fifty day moving average price of $733.01 and a 200-day moving average price of $681.97. The company has a market cap of $187.04 billion, a price-to-earnings ratio of 48.83, a PEG ratio of 2.59 and a beta of 1.26. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) 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 the consensus estimate of $3.75 billion. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The business's revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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. As a group, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Thursday, October 9th will be given 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 yield of 0.7%. Intuit's payout ratio is 30.28%.

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.