RMG Wealth Management LLC Acquires New Shares in Intuit Inc. $INTU

RMG Wealth Management LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 49 shares of the software maker’s stock, valued at approximately $37,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Brighton Jones LLC boosted its stake in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares during the period. Revolve Wealth Partners LLC boosted its stake in Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after purchasing an additional 482 shares during the period. NBC Securities Inc. acquired a new position in Intuit in the 1st quarter worth $92,000. Wealth Group Ltd. acquired a new position in Intuit in the 1st quarter worth $493,000. Finally, NewSquare Capital LLC boosted its stake in Intuit by 209.3% in the 1st quarter. NewSquare Capital LLC now owns 133 shares of the software maker’s stock worth $82,000 after purchasing an additional 90 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTU has been the subject of a number of research analyst reports. Oppenheimer upped their target price on shares of Intuit from $742.00 to $868.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Royal Bank Of Canada restated an “outperform” rating and set a $850.00 price objective on shares of Intuit in a research note on Tuesday, September 2nd. Wall Street Zen downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an “overweight” rating in a research note on Friday, June 13th. Finally, Zacks Research downgraded shares of Intuit from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $791.82.

Intuit Trading Down 1.8%

Shares of NASDAQ:INTU opened at $657.99 on Wednesday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The stock has a market cap of $183.45 billion, a PE ratio of 47.89, a P/E/G ratio of 2.59 and a beta of 1.25. The business has a 50 day moving average of $695.41 and a 200-day moving average of $692.97. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the company posted $1.99 earnings per share. The business’s revenue was up 20.3% on a year-over-year basis. 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, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be issued a dividend of $1.20 per share. This is a boost from Intuit’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Intuit’s payout ratio is 30.28%.

Insider Transactions at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the transaction, the director directly owned 15,474 shares of the company’s stock, valued at approximately $11,890,685.82. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 1,170 shares of the firm’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 directly owned 1,295 shares in the company, valued at $876,792.70. This represents a 47.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,740 shares of company stock valued at $1,870,800. 2.68% of the stock is currently owned by company insiders.

About Intuit

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.