16,596 Intuit Inc. $INTU Shares Sold by M&G PLC

M&G PLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 418,622 shares of the software maker’s stock after selling 16,596 shares during the period. M&G PLC owned 0.16% of Intuit worth $115,540,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. AlphaCore Capital LLC lifted its position in shares of Intuit by 3.8% in the third quarter. AlphaCore Capital LLC now owns 11,974 shares of the software maker’s stock valued at $3,301,000 after buying an additional 435 shares during the last quarter. Running Oak Capital LLC boosted its stake in shares of Intuit by 30.1% during the 3rd quarter. Running Oak Capital LLC now owns 27,176 shares of the software maker’s stock worth $7,493,000 after acquiring an additional 6,293 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Intuit by 326.6% during the 3rd quarter. Retirement Systems of Alabama now owns 247,820 shares of the software maker’s stock worth $68,326,000 after acquiring an additional 189,722 shares during the last quarter. Fulcrum Asset Management LLP increased its holdings in shares of Intuit by 1,204.2% during the 3rd quarter. Fulcrum Asset Management LLP now owns 17,450 shares of the software maker’s stock worth $4,677,000 after acquiring an additional 16,112 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Intuit by 7.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,227 shares of the software maker’s stock valued at $3,740,000 after acquiring an additional 892 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, Director Richard Dalzell sold 285 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total value 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. The trade was a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren 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 transaction, the chief accounting officer owned 1,628 shares in the company, valued at approximately $564,167.12. The trade was a 35.78% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.49% of the stock is owned by insiders.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $338.23 on Tuesday. 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 stock’s fifty day moving average price is $318.21 and its two-hundred day moving average price is $356.20. Intuit Inc. has a one year low of $252.84 and a one year high of $682.27. The firm has a market cap of $90.39 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.18 and a beta of 0.91.

Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.45. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. Intuit had a return on equity of 25.97% and a net margin of 21.29%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.75 earnings per share. 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, equities analysts forecast that Intuit Inc. will post 23.02 EPS for the current year.

Intuit Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on INTU shares. Citigroup cut their price target on Intuit from $591.00 to $457.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intuit from $530.00 to $425.00 and set a “buy” rating on the stock in a report on Wednesday, August 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $385.00 price objective on shares of Intuit in a research report on Friday, October 2nd. Evercore restated an “outperform” rating on shares of Intuit in a research note on Friday, September 18th. Finally, KeyCorp set a $400.00 target price on shares of Intuit in a report on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $431.68.

Intuit Company Profile

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.