Intuit Inc. $INTU Position Increased by State of Michigan Retirement System

by · The Markets Daily

State of Michigan Retirement System increased its position in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,990 shares of the software maker’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Intuit were worth $59,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its holdings in Intuit by 1.2% during the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock valued at $1,890,282,000 after buying an additional 36,513 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Intuit by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker’s stock valued at $1,130,718,000 after buying an additional 82,419 shares in the last quarter. New York Life Investment Management LLC raised its holdings in Intuit by 1.1% during the second quarter. New York Life Investment Management LLC now owns 41,830 shares of the software maker’s stock valued at $32,947,000 after buying an additional 442 shares in the last quarter. Vident Advisory LLC raised its holdings in Intuit by 22.1% during the first quarter. Vident Advisory LLC now owns 46,940 shares of the software maker’s stock valued at $28,821,000 after buying an additional 8,510 shares in the last quarter. Finally, Circle Wealth Management LLC raised its holdings in Intuit by 33.4% during the first quarter. Circle Wealth Management LLC now owns 3,451 shares of the software maker’s stock valued at $2,119,000 after buying an additional 865 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Up 1.7%

Shares of INTU opened at $667.55 on Friday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. 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 firm has a market capitalization of $186.11 billion, a price-to-earnings ratio of 48.58, a P/E/G ratio of 2.53 and a beta of 1.25. The stock’s 50-day moving average price is $669.06 and its 200 day moving average price is $702.52.

Intuit (NASDAQ:INTU – Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the company posted $1.99 earnings per share. The company’s quarterly revenue was up 20.3% compared to the same quarter last year. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. As a group, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Thursday, October 9th were paid a dividend of $1.20 per share. This is a positive change from Intuit’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, October 9th. Intuit’s dividend payout ratio is presently 34.93%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Bank of America cut their target price on Intuit from $875.00 to $800.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Zacks Research lowered Intuit from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. KeyCorp dropped their price objective on Intuit from $850.00 to $825.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. Stifel Nicolaus dropped their price objective on Intuit from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Finally, Citigroup dropped their price objective on Intuit from $815.00 to $803.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $791.82.

Check Out Our Latest Report on Intuit

Insider Activity at Intuit

In other Intuit news, Director Scott D. Cook sold 529 shares of Intuit stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $351,779.71. Following the sale, the director directly owned 6,162,547 shares of the company’s stock, valued at approximately $4,098,032,129.53. The trade was a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 1,170 shares of Intuit stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $677.06, for a total value of $792,160.20. Following the sale, the chief financial officer directly owned 1,295 shares in the company, valued at $876,792.70. The trade was a 47.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,407 shares of company stock worth $1,614,913 over the last three months. Company insiders own 2.68% of the company’s stock.

Intuit Profile

(Free Report)

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.

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