Sonora Investment Management Group LLC Invests $491,000 in Intuit Inc. $INTU

Key Points

• Sonora Investment Management Group LLC invested $491,000 in Intuit Inc., purchasing 624 shares in the 2nd quarter.
• Intuit has declared a quarterly dividend of $1.20 per share, up from the previous $1.04, representing an annualized dividend yield of 0.7%.
• Several analysts have set new price targets for Intuit, with an average target of $791.82, indicating a generally positive outlook on the stock.

Sonora Investment Management Group LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 624 shares of the software maker's stock, valued at approximately $491,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. boosted its stake in shares of Intuit by 1.2% during the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after acquiring an additional 36,513 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Intuit by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock valued at $1,130,718,000 after purchasing an additional 82,419 shares during the period. Vident Advisory LLC boosted its stake in Intuit by 22.1% in the 1st quarter. Vident Advisory LLC now owns 46,940 shares of the software maker's stock valued at $28,821,000 after purchasing an additional 8,510 shares during the period. Circle Wealth Management LLC boosted its stake in Intuit by 33.4% in the 1st quarter. Circle Wealth Management LLC now owns 3,451 shares of the software maker's stock valued at $2,119,000 after purchasing an additional 865 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its stake in Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after purchasing an additional 623 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the transaction, the executive vice president owned 19 shares of the company's stock, valued at approximately $14,704.10. The trade was a 98.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total value of $2,026,732.02. Following the transaction, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. This trade represents a 77.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,141 shares of company stock worth $6,195,865 in the last three months. Insiders own 2.68% of the company's stock.

Intuit Stock Performance

NASDAQ:INTU opened at $698.26 on Monday. The stock has a fifty day moving average price of $710.05 and a 200-day moving average price of $689.85. The company has a market cap of $194.67 billion, a price-to-earnings ratio of 50.82, a PEG ratio of 2.69 and a beta of 1.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week 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 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The company had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the firm earned $1.99 EPS. Intuit's 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. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be issued a dividend of $1.20 per share. This is an increase 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 payout ratio is presently 30.28%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. CLSA assumed coverage on Intuit in a research note on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target for the company. Barclays reduced their price target on Intuit from $815.00 to $785.00 and set an "overweight" rating for the company in a research note on Friday, August 22nd. Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. Royal Bank Of Canada restated an "outperform" rating and issued a $850.00 price target on shares of Intuit in a research note on Tuesday, September 2nd. Finally, Bank of America cut their target price on Intuit from $875.00 to $800.00 and set a "buy" rating for the company in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Intuit has a consensus 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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