Intuit Inc. $INTU Stock Holdings Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 49.5% during the third quarter, Holdings Channel reports. The firm owned 339,311 shares of the software maker’s stock after selling 332,752 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Intuit were worth $93,407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Intuit during the second quarter valued at approximately $6,851,859,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Intuit by 102.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock valued at $1,684,795,000 after acquiring an additional 1,972,719 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Intuit by 6.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,334,328 shares of the software maker’s stock valued at $870,260,000 after acquiring an additional 215,814 shares in the last quarter. Unisphere Establishment boosted its stake in Intuit by 6.5% in the 1st quarter. Unisphere Establishment now owns 1,810,000 shares of the software maker’s stock worth $782,608,000 after purchasing an additional 110,000 shares during the period. Finally, Amundi boosted its stake in Intuit by 44.9% in the 1st quarter. Amundi now owns 1,563,158 shares of the software maker’s stock worth $675,878,000 after purchasing an additional 484,602 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

NASDAQ INTU opened at $338.23 on Tuesday. The company has a 50 day simple moving average of $318.21 and a 200-day simple moving average of $356.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market capitalization of $90.39 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.18 and a beta of 0.91. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $682.27.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, topping the consensus estimate of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period last year, the company posted $2.75 earnings per share. The firm’s quarterly revenue 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. Equities research analysts predict that Intuit Inc. will post 23.02 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Thursday, October 8th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $1.20. Intuit’s payout ratio is currently 33.45%.

Insider Buying and Selling

In other Intuit news, Director Richard Dalzell sold 285 shares of Intuit stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total transaction of $92,727.60. Following the completion of the sale, the director owned 11,531 shares of the company’s stock, valued at $3,751,726.16. This trade represents a 2.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of Intuit stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total transaction of $314,311.78. Following the sale, the chief accounting officer directly owned 1,628 shares of the company’s stock, valued at $564,167.12. This trade represents a 35.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.49% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the topic of several research analyst reports. TD Cowen lifted their price objective on shares of Intuit from $346.00 to $350.00 and gave the stock a “hold” rating in a research report on Monday. KeyCorp set a $400.00 target price on Intuit in a report on Wednesday, August 26th. Morgan Stanley decreased their target price on Intuit from $335.00 to $315.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 26th. Jefferies Financial Group decreased their target price on Intuit from $550.00 to $500.00 and set a “buy” rating for the company in a research report on Sunday, August 23rd. Finally, Wolfe Research downgraded Intuit from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $431.68.

About Intuit

Intuit Inc develops financial management and business software for consumers, small businesses, and accounting professionals. Its products and services help users manage personal finances, prepare taxes, run businesses, handle payments, and support marketing activities.

Its offerings include TurboTax for tax preparation, QuickBooks for accounting and business management, Credit Karma for personal finance, and Mailchimp for email marketing and customer engagement. Intuit serves customers in the United States and other markets around the world.

Founded in 1983 by Scott Cook and Tom Proulx, Intuit is headquartered in Mountain View, California.