Wedmont Private Capital Boosts Stake in Intuit Inc. $INTU

Key Points

• Wedmont Private Capital increased its Intuit stake by 90.5% in the second quarter, bringing its holdings to 6,696 shares worth approximately $1.84 million. Institutional investors collectively own 83.66% of Intuit.
• Intuit exceeded quarterly expectations, reporting adjusted EPS of $4.03 versus the $3.58 consensus and revenue of $4.35 billion, up 13.7% year over year. The company issued fiscal 2027 EPS guidance of $22.88–$23.12.
• Intuit raised its quarterly dividend to $1.38 per share from $1.20, equivalent to an annualized $5.52 dividend and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $434.68.

Wedmont Private Capital boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 90.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,696 shares of the software maker's stock after purchasing an additional 3,181 shares during the period. Wedmont Private Capital's holdings in Intuit were worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after acquiring an additional 1,350 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after purchasing an additional 482 shares during the period. Nicholas Hoffman & Company LLC. bought a new position in shares of Intuit in the first quarter worth approximately $785,564,000. Sivia Capital Partners LLC increased its stake in shares of Intuit by 23.1% in the second quarter. Sivia Capital Partners LLC now owns 886 shares of the software maker's stock worth $698,000 after purchasing an additional 166 shares in the last quarter. Finally, Florida Financial Advisors LLC increased its stake in shares of Intuit by 12.2% in the second quarter. Florida Financial Advisors LLC now owns 470 shares of the software maker's stock worth $370,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 907 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the completion of the transaction, the chief accounting officer directly owned 1,628 shares in the company, valued at approximately $564,167.12. This represents a 35.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard L. Dalzell sold 338 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total value of $94,592.68. Following the transaction, the director owned 12,326 shares of the company's stock, valued at $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,813 shares of company stock valued at $563,548 in the last 90 days. 2.49% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $332.70 on Tuesday. The firm has a market cap of $91.01 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 0.95 and a beta of 0.98. The firm has a fifty day moving average price of $317.16 and a 200 day moving average price of $353.74. Intuit Inc. has a fifty-two week low of $252.84 and a fifty-two week high of $705.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.45 and a current ratio of 1.51.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the firm posted $2.75 EPS. Intuit's revenue for the quarter was up 13.7% compared to the same quarter last year. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 23.49 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 8th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Thursday, October 8th. This is a boost from Intuit's previous quarterly dividend of $1.20. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. Intuit's dividend payout ratio is currently 29.09%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. Daiwa Securities Group lowered their target price on shares of Intuit from $640.00 to $500.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Stifel Nicolaus set a $300.00 price target on Intuit in a research note on Wednesday, August 26th. Evercore reissued an "outperform" rating on shares of Intuit in a report on Tuesday, August 18th. Weiss Ratings downgraded Intuit from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, June 11th. Finally, Barclays dropped their price objective on Intuit from $443.00 to $408.00 and set an "overweight" rating for the company in a research note on Wednesday, August 26th. Seventeen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $434.68.

Intuit Profile

Intuit Inc NASDAQ: INTU is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities, and TurboTax, a tax-preparation and filing service aimed at individual taxpayers. In addition to these core offerings, Intuit has expanded through acquisitions to provide complementary services such as Credit Karma (consumer credit and financial-product marketplace) and Mailchimp (marketing and commerce tools), and it offers professional-grade tax solutions for accountants and tax preparers.

The company serves a mix of consumers, small and mid-sized businesses and accounting professionals across multiple markets, with a particularly large presence in the United States and an expanding international footprint.

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