Wedmont Private Capital Buys 3,181 Shares of Intuit Inc. $INTU

Wedmont Private Capital raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 90.5% during the second quarter, HoldingsChannel reports. The firm owned 6,696 shares of the software maker’s stock after buying an additional 3,181 shares during the quarter. Wedmont Private Capital’s holdings in Intuit were worth $1,841,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of INTU. Fiduciary Financial Advisors bought a new position in shares of Intuit during the 2nd quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management bought a new stake in Intuit in the fourth quarter worth $25,000. Osbon Capital Management LLC purchased a new position in Intuit during the second quarter worth $26,000. MidFirst Bank purchased a new position in Intuit during the second quarter worth $28,000. Finally, HHM Wealth Advisors LLC increased its position in Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock valued at $30,000 after acquiring an additional 30 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the completion of the sale, the director directly owned 12,326 shares in the company, valued at approximately $3,449,554.36. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren D. Hotz sold 907 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $346.54, for a total value of $314,311.78. Following the transaction, the chief accounting officer directly owned 1,628 shares in the company, valued at $564,167.12. The trade was a 35.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,813 shares of company stock worth $563,548. 2.49% of the stock is owned by insiders.

Analyst Ratings Changes

INTU has been the subject of several analyst reports. Stifel Nicolaus set a $300.00 target price on shares of Intuit in a report on Wednesday, August 26th. Argus cut their price target on shares of Intuit from $580.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. HSBC decreased their price objective on shares of Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Jefferies Financial Group cut their target price on Intuit from $550.00 to $500.00 and set a “buy” rating on the stock in a research note on Sunday, August 23rd. Finally, Morgan Stanley reduced their price target on Intuit from $335.00 to $315.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 26th. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $434.68.

Intuit Stock Performance

INTU stock opened at $332.70 on Tuesday. Intuit Inc. has a 12 month low of $252.84 and a 12 month high of $705.08. The firm’s 50-day moving average is $317.16 and its 200 day moving average is $353.74. The company has a market capitalization of $91.01 billion, a PE ratio of 20.16, a P/E/G ratio of 0.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.45. The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.75 EPS. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. On average, research analysts anticipate that Intuit Inc. will post 23.49 EPS for the current 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 issued a $1.38 dividend. The ex-dividend date is Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $1.20. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.7%. Intuit’s dividend payout ratio (DPR) is presently 29.09%.

About Intuit

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.