Bank of America Corp DE Sells 166,329 Shares of Intuit Inc. $INTU

Bank of America Corp DE cut its position in Intuit Inc. (NASDAQ:INTU) by 8.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,768,998 shares of the software maker’s stock after selling 166,329 shares during the quarter. Bank of America Corp DE owned approximately 0.64% of Intuit worth $764,879,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Intuit by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock worth $19,156,152,000 after purchasing an additional 296,448 shares in the last quarter. State Street Corp raised its holdings in Intuit by 1.4% in the fourth quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock worth $8,653,092,000 after purchasing an additional 180,069 shares in the last quarter. Geode Capital Management LLC raised its holdings in Intuit by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock worth $4,369,488,000 after purchasing an additional 87,451 shares in the last quarter. Morgan Stanley raised its holdings in Intuit by 1.2% in the fourth quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock worth $3,378,912,000 after purchasing an additional 60,910 shares in the last quarter. Finally, Norges Bank bought a new position in Intuit in the fourth quarter worth about $3,058,407,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 907 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer owned 1,628 shares in the company, valued at approximately $564,167.12. This represents a 35.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard L. Dalzell sold 338 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the transaction, the director owned 12,326 shares in the company, valued at approximately $3,449,554.36. This trade represents a 2.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 2,146 shares of company stock worth $662,666. 2.49% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intuit from $530.00 to $425.00 and set a “buy” rating for the company in a report on Wednesday, August 19th. HSBC cut their price objective on shares of Intuit from $897.00 to $707.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Truist Financial cut their price objective on shares of Intuit from $350.00 to $300.00 and set a “hold” rating on the stock in a report on Wednesday, August 26th. JPMorgan Chase & Co. downgraded shares of Intuit from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $605.00 to $331.00 in a report on Wednesday, August 26th. Finally, BNP Paribas Exane cut their price objective on shares of Intuit from $463.00 to $315.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $434.68.

Intuit Stock Up 0.4%

Shares of INTU traded up $1.34 during mid-day trading on Monday, hitting $359.40. 1,871,193 shares of the company traded hands, compared to its average volume of 4,382,581. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $705.08. The company has a quick ratio of 1.45, a current ratio of 1.51 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $98.31 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 0.92 and a beta of 0.97. The business has a 50 day moving average of $307.36 and a 200 day moving average of $356.13.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 25th. The software maker reported $4.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the company posted $2.75 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. Equities research analysts anticipate that Intuit Inc. will post 23.07 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 8th will be issued a $1.38 dividend. This is a boost from Intuit’s previous quarterly dividend of $1.20. The ex-dividend date is Thursday, October 8th. This represents a $5.52 annualized dividend and a yield of 1.5%. Intuit’s dividend payout ratio is currently 33.45%.

Intuit News Roundup

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit announced a partnership with Perplexity to integrate QuickBooks and Mailchimp into Perplexity Computer, an agentic AI assistant. The collaboration could help users move from discovering information to receiving personalized insights and taking actions within Intuit’s software ecosystem. Intuit and Perplexity Team on AI Integrations
• Positive Sentiment: Recent AI-powered product enhancements for mid-market financial management support Intuit’s strategy of using automation and data-driven insights to expand the value of its QuickBooks platform. Intuit unveils AI-powered innovations for mid-market financial management
• Positive Sentiment: A comparison with PayPal argues that Intuit’s broad financial-software ecosystem, recurring customer relationships and AI investments provide a strong foundation for future growth. Intuit or PayPal: Which Fintech Is Built for Future Growth?
• Neutral Sentiment: Analyst commentary notes that INTU has significantly underperformed the Nasdaq over the past year, but expectations for its future remain cautiously positive. Other coverage highlights Intuit’s profitability and market leadership while comparing it with higher-risk AI software companies. Is Intuit Stock Underperforming the Nasdaq?
• Negative Sentiment: Several law firms publicized a securities class action and a September 8 lead-plaintiff deadline involving investors who purchased Intuit shares between February 25, 2025, and June 1, 2026. The notices cite a reassessment of TurboTax’s growth outlook and add legal and reputational uncertainty, although the allegations have not been proven. Intuit Inc. Securities Fraud Lawsuit Deadline
• Negative Sentiment: An Intuit executive sold 906 shares worth approximately $314,000, representing 36% of the executive’s direct holdings before the transaction. While the sale may be routine, its timing can weigh on sentiment amid the stock’s recent decline. An Intuit Executive Sells Over a Third of Their Direct Holdings

About Intuit

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities, and TurboTax, a tax-preparation and filing service aimed at individual taxpayers. In addition to these core offerings, Intuit has expanded through acquisitions to provide complementary services such as Credit Karma (consumer credit and financial-product marketplace) and Mailchimp (marketing and commerce tools), and it offers professional-grade tax solutions for accountants and tax preparers.

The company serves a mix of consumers, small and mid-sized businesses and accounting professionals across multiple markets, with a particularly large presence in the United States and an expanding international footprint.