Intuit Inc. $INTU Shares Sold by SteelPeak Wealth LLC

by · The Cerbat Gem

SteelPeak Wealth LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU – Free Report) by 94.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,818 shares of the software maker’s stock after selling 48,604 shares during the quarter. SteelPeak Wealth LLC’s holdings in Intuit were worth $777,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Robertson Stephens Wealth Management LLC bought a new stake in shares of Intuit in the 3rd quarter worth about $302,000. Frank Rimerman Advisors LLC increased its position in shares of Intuit by 94.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,451 shares of the software maker’s stock worth $1,227,000 after purchasing an additional 2,158 shares in the last quarter. Kintegral Advisory LLC increased its position in shares of Intuit by 0.6% during the 3rd quarter. Kintegral Advisory LLC now owns 10,711 shares of the software maker’s stock worth $2,953,000 after purchasing an additional 60 shares in the last quarter. Mosley Wealth Management lifted its holdings in Intuit by 59.8% during the 3rd quarter. Mosley Wealth Management now owns 1,640 shares of the software maker’s stock valued at $452,000 after purchasing an additional 614 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Intuit by 24.0% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 28,149 shares of the software maker’s stock valued at $7,957,000 after purchasing an additional 5,456 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 0.1%

Shares of NASDAQ INTU opened at $325.62 on Tuesday. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $689.17. The company has a market cap of $87.02 billion, a PE ratio of 19.73, a P/E/G ratio of 0.95 and a beta of 1.01. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $320.98 and a two-hundred day moving average of $327.16.

Intuit (NASDAQ:INTU – Get Free Report) last announced its earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.45. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. Intuit had a net margin of 21.29% and a return on equity of 25.97%. Intuit’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business 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. As a group, equities analysts expect that Intuit Inc. will post 23.02 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed 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 1.7%. The ex-dividend date was Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $1.20. Intuit’s dividend payout ratio is 33.45%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INTU. Citigroup reduced their price target on shares of Intuit from $591.00 to $457.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Barclays dropped their price objective on shares of Intuit from $443.00 to $408.00 and set an “overweight” rating for the company in a report on Wednesday, August 26th. Bank of America cut shares of Intuit from a “buy” rating to a “neutral” rating and set a $360.00 target price for the company. in a research note on Wednesday, August 26th. Morgan Stanley reduced their target price on Intuit from $335.00 to $315.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 26th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Intuit in a report on Monday, September 21st. Sixteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Hold” and an average price target of $431.55.

Check Out Our Latest Stock Report on INTU

Insiders Place Their Bets

In other news, Director Richard Dalzell sold 285 shares of Intuit stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total value of $92,727.60. Following the completion of the sale, the director directly owned 11,531 shares of the company’s stock, valued at approximately $3,751,726.16. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of the business’s 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 sale, the chief accounting officer owned 1,628 shares of the company’s stock, valued at approximately $564,167.12. The trade was a 35.78% decrease in their position. The SEC filing for this sale provides additional information. 2.49% of the stock is currently owned by company insiders.

Intuit Company Profile

(Free Report)

Intuit Inc is a global financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, taxes and marketing. Its ecosystem combines financial management, tax preparation, accounting, payments and customer relationship tools.

The company’s principal products include TurboTax for tax preparation, QuickBooks for accounting, invoicing, payroll and payments, Credit Karma for personal financial services, and Mailchimp for marketing automation and customer engagement.

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