Patten & Patten Inc. TN Reduces Holdings in Intuit Inc. $INTU

Key Points

• Patten & Patten Inc. reduced its holdings in Intuit Inc. by 5.5%, now owning 16,797 shares worth approximately $13.23 million after selling 975 shares in the second quarter.
• Intuit recently announced an increase in its quarterly dividend from $1.04 to $1.20, reflecting a annualized dividend yield of 0.7%.
• Intuit reported Q1 earnings with earnings per share of $2.75, surpassing analysts' expectations, coupled with a year-over-year revenue increase of 20.3%.

Patten & Patten Inc. TN decreased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,797 shares of the software maker's stock after selling 975 shares during the quarter. Patten & Patten Inc. TN's holdings in Intuit were worth $13,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Davidson Investment Advisors boosted its holdings in shares of Intuit by 1.0% in the second quarter. Davidson Investment Advisors now owns 43,399 shares of the software maker's stock worth $34,182,000 after buying an additional 412 shares during the last quarter. Generali Asset Management SPA SGR boosted its holdings in shares of Intuit by 5.2% in the second quarter. Generali Asset Management SPA SGR now owns 24,125 shares of the software maker's stock worth $19,002,000 after buying an additional 1,186 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Intuit by 11.5% in the second quarter. Ritholtz Wealth Management now owns 5,017 shares of the software maker's stock worth $3,952,000 after buying an additional 516 shares during the last quarter. Curated Wealth Partners LLC boosted its holdings in shares of Intuit by 1.1% in the second quarter. Curated Wealth Partners LLC now owns 1,568 shares of the software maker's stock worth $1,235,000 after buying an additional 17 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of Intuit by 7.7% in the second quarter. Harbour Investments Inc. now owns 363 shares of the software maker's stock worth $286,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Trading Down 0.7%

Intuit stock opened at $652.69 on Thursday. The firm's 50 day moving average price is $679.57 and its 200-day moving average price is $694.05. 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 $181.97 billion, a P/E ratio of 47.50, a PEG ratio of 2.54 and a beta of 1.25. 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 announced its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share 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 company had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the business posted $1.99 earnings per share. Intuit's quarterly 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. On average, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

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

Insider Buying and Selling

In related news, Director Scott D. Cook sold 529 shares of the business's 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. The trade was a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 1,170 shares of the business's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $677.06, for a total transaction of $792,160.20. Following the completion of the sale, the chief financial officer owned 1,295 shares in the company, valued at $876,792.70. This represents a 47.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,407 shares of company stock worth $1,614,913. Insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

INTU has been the topic of several analyst reports. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Sunday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Intuit in a report on Wednesday, October 8th. Stifel Nicolaus lowered their price target on shares of Intuit from $850.00 to $800.00 and set a "buy" rating on the stock in a report on Friday, August 22nd. Morgan Stanley lowered their price target on shares of Intuit from $900.00 to $880.00 and set an "overweight" rating on the stock in a report on Friday, August 22nd. Finally, CLSA initiated coverage on shares of Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $791.82.

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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