Royal Bank of Canada Sells 299,510 Shares of Intuit Inc. $INTU

Key Points

• Royal Bank of Canada reduced its stake in Intuit Inc. by 13.2%, selling 299,510 shares in the first quarter, leaving it with 1,967,451 shares valued at approximately $1.2 billion.
• Multiple large investors, including Brighton Jones LLC and Revolve Wealth Partners LLC, have increased their positions in Intuit, highlighting a growing interest among institutional investors as 83.66% of the stock is now held by them.
• Intuit reported a 20.3% year-over-year increase in revenue, achieving $3.83 billion for the quarter, and plans to pay a quarterly dividend of $1.20 per share, up from the previous $1.04.

Royal Bank of Canada cut its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 13.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,967,451 shares of the software maker's stock after selling 299,510 shares during the quarter. Royal Bank of Canada owned 0.70% of Intuit worth $1,207,997,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INTU. GAMMA Investing LLC raised its position in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after purchasing an additional 2,821,534 shares during the last quarter. Nuveen LLC bought a new position in Intuit in the first quarter valued at about $882,031,000. Nicholas Hoffman & Company LLC. bought a new position in Intuit in the first quarter valued at about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after purchasing an additional 771,232 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Intuit by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock valued at $5,537,435,000 after purchasing an additional 649,212 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

Intuit stock traded down $0.39 during mid-day trading on Thursday, reaching $668.29. 1,717,588 shares of the company's stock were exchanged, compared to its average volume of 1,822,438. The business's fifty day simple moving average is $741.67 and its 200 day simple moving average is $678.72. The firm has a market capitalization of $186.42 billion, a PE ratio of 48.64, a P/E/G ratio of 2.57 and a beta of 1.26. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The company has a quick ratio of 1.45, a current ratio of 1.36 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.99 earnings per share. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current 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 paid a $1.20 dividend. The ex-dividend date is Thursday, October 9th. This is a boost from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. Intuit's dividend payout ratio is presently 30.28%.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the sale, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the sale, the executive vice president owned 19 shares in the company, valued at approximately $14,704.10. The trade was a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,029 shares of company stock valued at $55,231,998. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of several research reports. BMO Capital Markets increased their target price on Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Oppenheimer raised 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. Barclays lowered their price objective on shares of Intuit from $815.00 to $785.00 and set an "overweight" rating for the company in a research note on Friday, August 22nd. Zacks Research cut Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, UBS Group cut their target price on Intuit from $750.00 to $725.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $797.62.

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.