Spartan Planning & Wealth Management Purchases Shares of 459 Intuit Inc. $INTU

Key Points

• Spartan Planning & Wealth Management has acquired 459 shares of Intuit Inc. valued at approximately $362,000, marking a new investment in the software firm.
• Intuit recently declared a quarterly dividend of $1.20, increasing from its previous dividend of $1.04, representing an annualized yield of 0.7%.
• Intuit reported better-than-expected quarterly earnings of $2.75 per share, surpassing analyst estimates, with a revenue of $3.83 billion which is a 20.3% increase year-over-year.

Spartan Planning & Wealth Management bought a new position in Intuit Inc. (NASDAQ:INTU - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 459 shares of the software maker's stock, valued at approximately $362,000.

Other hedge funds have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Intuit by 1,566.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 50 shares of the software maker's stock worth $31,000 after buying an additional 47 shares in the last quarter. TD Capital Management LLC lifted its holdings in shares of Intuit by 511.1% in the first quarter. TD Capital Management LLC now owns 55 shares of the software maker's stock worth $34,000 after buying an additional 46 shares in the last quarter. Olde Wealth Management LLC purchased a new stake in Intuit during the first quarter valued at $37,000. Activest Wealth Management raised its stake in Intuit by 3,050.0% during the first quarter. Activest Wealth Management now owns 63 shares of the software maker's stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new stake in Intuit during the first quarter valued at $37,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Trading Down 0.5%

INTU stock opened at $694.69 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70. The stock has a market capitalization of $193.68 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 2.69 and a beta of 1.26. The firm's fifty day simple moving average is $708.67 and its two-hundred day simple moving average is $690.52.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. The business had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $3.75 billion. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business's revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business 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. As a group, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

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

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 2,591 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the transaction, the chief financial officer owned 768 shares of the company's stock, valued at $600,744.96. This trade represents a 77.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. Insiders have sold a total of 8,141 shares of company stock worth $6,195,865 over the last ninety days. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on INTU shares. Oppenheimer upped their price target on shares of Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Citigroup decreased their price target on shares of Intuit from $815.00 to $803.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Zacks Research downgraded shares of Intuit from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. BMO Capital Markets upped their price target on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, CLSA started coverage on shares of Intuit in a research note 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 have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $791.82.

Intuit Company 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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