Truist Financial Corp Grows Stake in Intuit Inc. $INTU

Key Points

• Truist Financial Corp increased its stake in Intuit Inc. by 1.2%, owning 91,539 shares valued at approximately $72.1 million by the end of the second quarter.
• Intuit recently raised its quarterly dividend from $1.04 to $1.20, with the dividend yield now at 0.7% and a payout ratio of 30.28%.
• The software company reported a 20.3% year-over-year revenue increase in its latest earnings, posting $3.83 billion for the quarter, exceeding analyst expectations.

Truist Financial Corp raised its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,539 shares of the software maker's stock after acquiring an additional 1,074 shares during the quarter. Truist Financial Corp's holdings in Intuit were worth $72,099,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock valued at $16,780,536,000 after acquiring an additional 294,993 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 acquiring an additional 649,212 shares during the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 6.8% in the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock valued at $3,472,266,000 after acquiring an additional 358,328 shares during the last quarter. Brown Advisory Inc. boosted its stake in Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after acquiring an additional 252,265 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after acquiring an additional 36,513 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the transaction, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. This represents a 2.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 42 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $27,929.58. Following the completion of the transaction, the chief financial officer directly owned 831 shares in the company, valued at $552,606.69. The trade was a 4.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,785 shares of company stock worth $2,029,299 over the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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 research report on Friday, August 22nd. Citigroup lowered their price target on shares of Intuit from $815.00 to $803.00 and set a "buy" rating on the stock in a research report on Friday, August 22nd. CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target on the stock. UBS Group lowered their price target on shares of Intuit from $750.00 to $725.00 and set a "neutral" rating on the stock in a research report on Friday, August 22nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price target on shares of Intuit in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $791.82.

Intuit Stock Performance

Intuit stock opened at $679.50 on Thursday. The firm's 50 day simple moving average is $705.06 and its 200 day simple moving average is $690.39. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $189.44 billion, a PE ratio of 49.45, a price-to-earnings-growth ratio of 2.64 and a beta of 1.25. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last issued 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. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.75 billion. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business's revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.99 EPS. 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 expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business 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 $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. This is a positive change from Intuit's previous quarterly dividend of $1.04. Intuit's payout ratio is currently 30.28%.

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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