Intuit Inc. $INTU Stock Position Reduced by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 65.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,927 shares of the software maker’s stock after selling 3,622 shares during the period. Wedbush Securities Inc.’s holdings in Intuit were worth $531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Beacon Pointe Advisors LLC purchased a new position in shares of Intuit in the second quarter valued at $1,643,000. J. Safra Sarasin Holding AG raised its stake in Intuit by 831.4% during the first quarter. J. Safra Sarasin Holding AG now owns 27,337 shares of the software maker’s stock valued at $11,817,000 after purchasing an additional 24,402 shares in the last quarter. Lindsell Train Ltd lifted its holdings in shares of Intuit by 20.2% in the 1st quarter. Lindsell Train Ltd now owns 733,699 shares of the software maker’s stock valued at $317,237,000 after acquiring an additional 123,448 shares during the last quarter. Cygnus Capital Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at approximately $4,706,000. Finally, Lansforsakringar Fondforvaltning AB publ lifted its position in Intuit by 13.0% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 100,673 shares of the software maker’s stock worth $43,529,000 after buying an additional 11,597 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 3.4%

Shares of NASDAQ INTU opened at $328.45 on Wednesday. Intuit Inc. has a 52-week low of $252.84 and a 52-week high of $688.90. The stock has a 50 day moving average price of $320.86 and a 200 day moving average price of $367.06.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, topping the consensus estimate of $3.58 by $0.45. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.27 billion. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous 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. Research analysts predict that Intuit Inc. will post 23.02 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, October 8th were given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $1.20.

Analyst Ratings Changes

Several brokerages have issued reports on INTU. Piper Sandler raised their price objective on shares of Intuit from $250.00 to $290.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Susquehanna cut their price objective on Intuit from $427.00 to $415.00 and set a “positive” rating on the stock in a research report on Wednesday, August 26th. Bank of America lowered Intuit from a “buy” rating to a “neutral” rating and set a $360.00 target price on the stock. in a research note on Wednesday, August 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Intuit in a research report on Monday, September 21st. Finally, Wolfe Research downgraded Intuit from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $431.55.

Key Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit unveiled an expanded Intuit Intelligence platform that connects businesses and accounting firms through AI-powered automation, data insights, and workflow tools. The rollout is intended to strengthen QuickBooks and Intuit’s broader ecosystem while increasing accountant and business customer engagement. Intuit Expands Intelligence Platform to Power the Next Era of Accounting Firm and Business Growth
• Positive Sentiment: New AI capabilities are being tailored for industries including nonprofits and manufacturers, potentially expanding Intuit’s addressable market and supporting longer-term revenue growth. Intuit Unveils Custom Financial AI Tools for Nonprofits and Manufacturers
• Positive Sentiment: Oppenheimer raised its price target for Intuit to $406 from $380 and maintained an Outperform rating, citing the company’s multi-year strategy and growth outlook. Oppenheimer Adjusts Price Target on Intuit to $406 From $380

Insiders Place Their Bets

In other news, CAO Lauren Hotz sold 907 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $564,167.12. This represents a 35.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Dalzell sold 285 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total value of $92,727.60. Following the transaction, the director owned 11,531 shares in the company, valued at approximately $3,751,726.16. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.49% of the stock is currently owned by corporate insiders.

About Intuit

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.