Intuit Inc. $INTU Stock Holdings Increased by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in Intuit Inc. (NASDAQ:INTU) by 326.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,820 shares of the software maker’s stock after purchasing an additional 189,722 shares during the period. Retirement Systems of Alabama’s holdings in Intuit were worth $68,326,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. XXEC Inc. bought a new position in Intuit in the 2nd quarter worth about $436,740,000. BlackRock Inc. bought a new stake in shares of Intuit during the second quarter valued at approximately $6,851,859,000. Corient Private Wealth LP bought a new stake in shares of Intuit during the second quarter valued at approximately $40,545,000. Bank of America Corp DE bought a new stake in shares of Intuit during the second quarter valued at approximately $589,841,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Intuit during the second quarter worth approximately $564,592,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on INTU. TD Cowen raised their target price on Intuit from $346.00 to $350.00 and gave the company a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on Intuit from $530.00 to $425.00 and set a “buy” rating for the company in a research report on Wednesday, August 19th. Citigroup reduced their price target on Intuit from $591.00 to $457.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. UBS Group reissued a “neutral” rating on shares of Intuit in a research note on Friday, September 18th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $300.00 price target on shares of Intuit in a report on Friday, September 18th. Sixteen equities 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $431.68.

Insider Buying and Selling

In other Intuit news, Director Richard L. Dalzell sold 285 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $325.36, for a total transaction of $92,727.60. Following the sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren D. Hotz sold 907 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the sale, the chief accounting officer owned 1,628 shares of the company’s stock, valued at $564,167.12. The trade was a 35.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.49% of the company’s stock.

Intuit Price Performance

NASDAQ INTU opened at $338.23 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.34. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $682.27. The company has a market cap of $90.39 billion, a PE ratio of 20.50, a PEG ratio of 1.18 and a beta of 0.91. The stock’s 50-day moving average price is $318.21 and its two-hundred day moving average price is $356.20.

Intuit (NASDAQ:INTU) last announced its earnings results 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 company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the company posted $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, analysts predict that Intuit Inc. will post 23.02 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Thursday, October 8th were given a $1.38 dividend. This is a boost 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 dividend yield of 1.6%. Intuit’s payout ratio is currently 33.45%.

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.