Wedge Capital Management L L P NC Cuts Position in Intuit Inc. $INTU

Key Points

• Wedge Capital Management L L P NC reduced its stake in Intuit Inc. by 9.8% during the second quarter, now owning 85,070 shares worth approximately $67 million.
• Intuit recently increased its quarterly dividend from $1.04 to $1.20, representing a dividend yield of 0.7% and an annualized payout of $4.80.
• The company reported better-than-expected quarterly earnings of $2.75 per share on revenues of $3.83 billion, significantly surpassing consensus estimates.

Wedge Capital Management L L P NC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,070 shares of the software maker's stock after selling 9,257 shares during the period. Intuit accounts for about 1.2% of Wedge Capital Management L L P NC's portfolio, making the stock its 10th biggest position. Wedge Capital Management L L P NC's holdings in Intuit were worth $67,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in INTU. Copia Wealth Management bought a new stake in shares of Intuit during the 4th quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth approximately $28,000. Vista Cima Wealth Management LLC acquired a new position in Intuit during the 1st quarter worth approximately $31,000. CBIZ Investment Advisory Services LLC raised its stake in Intuit by 1,566.7% during the 1st 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 during the period. Finally, TD Capital Management LLC raised its stake in Intuit by 511.1% during the 1st quarter. TD Capital Management LLC now owns 55 shares of the software maker's stock worth $34,000 after buying an additional 46 shares during the period. Institutional investors own 83.66% of the company's stock.

Intuit Stock Up 1.9%

INTU stock opened at $687.92 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36. The company has a market capitalization of $191.79 billion, a price-to-earnings ratio of 50.07, a PEG ratio of 2.61 and a beta of 1.26. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The stock has a fifty day moving average of $715.45 and a 200-day moving average of $685.06.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.75 billion. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The firm's quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company 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, equities research analysts predict 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. Stockholders of record on Thursday, October 9th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, October 9th. This is an increase from Intuit's previous quarterly dividend of $1.04. This represents a $4.80 dividend on an annualized basis and a dividend yield of 0.7%. Intuit's dividend payout ratio is 30.28%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 2,591 shares of the firm'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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,879 shares of company stock valued at $7,558,613. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTU. Stifel Nicolaus dropped their price target on Intuit from $850.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Citigroup decreased 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. Piper Sandler reissued an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI boosted their price objective on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, BMO Capital Markets boosted their price objective on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. One 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 given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $797.62.

About Intuit

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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