Swedbank AB Sells 279,269 Shares of Intuit Inc. $INTU

Swedbank AB lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 31.5% during the 1st quarter, HoldingsChannel reports. The fund owned 607,158 shares of the software maker’s stock after selling 279,269 shares during the quarter. Swedbank AB’s holdings in Intuit were worth $262,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Rakuten Investment Management Inc. raised its stake in Intuit by 522.3% in the fourth quarter. Rakuten Investment Management Inc. now owns 51,697 shares of the software maker’s stock valued at $34,852,000 after buying an additional 43,389 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Intuit by 20.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock worth $1,848,954,000 after acquiring an additional 471,451 shares during the last quarter. Vestcor Inc increased its holdings in shares of Intuit by 79.1% during the fourth quarter. Vestcor Inc now owns 20,717 shares of the software maker’s stock valued at $13,723,000 after acquiring an additional 9,148 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Intuit by 119.5% during the first quarter. Janney Montgomery Scott LLC now owns 86,618 shares of the software maker’s stock valued at $37,452,000 after acquiring an additional 47,148 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Intuit by 13.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 59,974 shares of the software maker’s stock valued at $39,728,000 after purchasing an additional 6,999 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of several research analyst reports. Weiss Ratings downgraded shares of Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. TD Cowen decreased their price target on shares of Intuit from $576.00 to $504.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Wall Street Zen downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore dropped their price objective on shares of Intuit from $540.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Finally, Oppenheimer cut their target price on Intuit from $558.00 to $406.00 and set an “outperform” rating on the stock in a research report on Thursday, May 21st. Twenty-two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $498.40.

Insider Activity at Intuit

In other news, Director Vasant M. Prabhu acquired 1,250 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $309.45 per share, with a total value of $386,812.50. Following the purchase, the director directly owned 1,250 shares of the company’s stock, valued at $386,812.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard L. Dalzell sold 338 shares of Intuit stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the transaction, the director directly owned 12,326 shares of the company’s stock, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by company insiders.

Intuit Stock Performance

INTU traded up $10.54 during trading on Tuesday, reaching $282.68. 1,371,818 shares of the company’s stock were exchanged, compared to its average volume of 4,450,278. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $813.70. The company’s fifty day simple moving average is $325.83 and its 200-day simple moving average is $432.20. The stock has a market capitalization of $77.32 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the prior year, the business earned $11.65 earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, research analysts predict that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 9th. Intuit’s dividend payout ratio (DPR) is 29.07%.

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; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.