Synovus Financial Corp Has $2.24 Million Holdings in Intuit Inc. $INTU

Key Points

• Synovus Financial Corp has reduced its stake in Intuit Inc. by 62.9%, now holding shares valued at $2.24 million after selling 6,177 shares.
• Intuit's quarterly earnings exceeded expectations with an EPS of $2.75, above the consensus estimate of $2.66, and revenue increased by 20.3% year-over-year.
• The company has announced a quarterly dividend of $1.20, up from the previous $1.04, to be paid on October 17th, reflecting a commitment to returning value to shareholders.

Synovus Financial Corp lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 62.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,642 shares of the software maker's stock after selling 6,177 shares during the quarter. Synovus Financial Corp's holdings in Intuit were worth $2,236,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. ICONIQ Capital LLC boosted its position in Intuit by 21.0% during the 1st quarter. ICONIQ Capital LLC now owns 2,010 shares of the software maker's stock worth $1,234,000 after acquiring an additional 349 shares during the period. Quantitative Investment Management LLC acquired a new position in Intuit during the 1st quarter worth $1,258,000. APG Asset Management N.V. boosted its position in Intuit by 2.4% during the 1st quarter. APG Asset Management N.V. now owns 294,429 shares of the software maker's stock worth $167,355,000 after acquiring an additional 7,030 shares during the period. Smartleaf Asset Management LLC boosted its position in Intuit by 12.3% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,972 shares of the software maker's stock worth $2,379,000 after acquiring an additional 434 shares during the period. Finally, Kestra Advisory Services LLC boosted its position in Intuit by 1.9% during the 1st quarter. Kestra Advisory Services LLC now owns 10,371 shares of the software maker's stock worth $6,368,000 after acquiring an additional 194 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. BMO Capital Markets boosted their price target on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. Stifel Nicolaus cut their price objective on Intuit from $850.00 to $800.00 and set a "buy" rating for the company in a report on Friday, August 22nd. JPMorgan Chase & Co. cut their price objective on Intuit from $770.00 to $750.00 and set an "overweight" rating for the company in a report on Friday, August 22nd. Finally, Citigroup cut their price objective on Intuit from $815.00 to $803.00 and set a "buy" rating for the company in a 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $797.62.

Intuit Trading Up 0.8%

Shares of NASDAQ INTU traded up $5.03 during mid-day trading on Thursday, hitting $668.20. 2,069,577 shares of the company traded hands, compared to its average volume of 2,152,629. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The stock has a market capitalization of $186.39 billion, a price-to-earnings ratio of 48.63, a PEG ratio of 2.60 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average of $749.19 and a two-hundred day moving average of $676.44.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business posted $1.99 earnings per share. Intuit's revenue was up 20.3% compared to the same quarter last year. 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 anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed 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 an increase from Intuit's previous quarterly dividend of $1.04. Intuit's dividend payout ratio (DPR) is currently 30.28%.

Insider Transactions at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. This represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was 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 directly owned 19 shares of the company's stock, valued at approximately $14,704.10. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,817 shares of company stock worth $82,475,471. 2.68% of the stock is currently owned by company insiders.

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.