Westpac Banking Corp Has $18.37 Million Stock Position in Intuit Inc. $INTU

Westpac Banking Corp reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 7.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 23,322 shares of the software maker’s stock after selling 2,011 shares during the period. Intuit makes up about 1.2% of Westpac Banking Corp’s holdings, making the stock its 10th largest holding. Westpac Banking Corp’s holdings in Intuit were worth $18,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Integrated Quantitative Investments LLC purchased a new position in Intuit during the second quarter valued at $1,352,000. Western Wealth Management LLC boosted its holdings in shares of Intuit by 15.3% during the 2nd quarter. Western Wealth Management LLC now owns 519 shares of the software maker’s stock valued at $409,000 after purchasing an additional 69 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of Intuit during the second quarter valued at about $3,103,000. Summitry LLC bought a new stake in shares of Intuit in the second quarter worth about $713,000. Finally, Tortoise Investment Management LLC lifted its position in shares of Intuit by 540.0% in the second quarter. Tortoise Investment Management LLC now owns 32 shares of the software maker’s stock worth $25,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. Rothschild & Co Redburn raised their price target on Intuit from $560.00 to $670.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. JPMorgan Chase & Co. cut their target price on shares of Intuit from $770.00 to $750.00 and set an “overweight” rating for the company in a report on Friday, August 22nd. KeyCorp decreased their price target on shares of Intuit from $850.00 to $825.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. Finally, Citigroup dropped their price objective on shares of Intuit from $815.00 to $803.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $791.82.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,170 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $677.06, for a total transaction of $792,160.20. Following the transaction, the chief financial officer owned 1,295 shares of the company’s stock, valued at approximately $876,792.70. This represents a 47.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $661.15, for a total value of $220,162.95. Following the sale, the director directly owned 14,475 shares of the company’s stock, valued at $9,570,146.25. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,407 shares of company stock worth $1,614,913 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Intuit Stock Up 1.9%

Shares of INTU opened at $662.41 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $667.47 and a 200 day moving average of $706.62. The company has a market cap of $184.68 billion, a PE ratio of 48.21, a P/E/G ratio of 2.53 and a beta of 1.25. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.99 earnings per share. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Thursday, October 9th were paid a $1.20 dividend. The ex-dividend date of this dividend was Thursday, October 9th. This is an increase from Intuit’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 0.7%. Intuit’s payout ratio is 34.93%.

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.