Swedbank AB Sells 279,269 Shares of Intuit Inc. $INTU

Swedbank AB reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 31.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 607,158 shares of the software maker’s stock after selling 279,269 shares during the quarter. Swedbank AB owned 0.22% of Intuit worth $262,523,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Joseph Group Capital Management bought a new stake in shares of Intuit in the 4th quarter worth approximately $25,000. Intesa Sanpaolo Wealth Management bought a new position in Intuit during the 4th quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. purchased a new position in Intuit during the third quarter valued at $33,000. Birchwood Financial Partners Inc. purchased a new position in Intuit during the fourth quarter valued at $33,000. Finally, Barnes Dennig Private Wealth Management LLC boosted its holdings in Intuit by 54.3% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the software maker’s stock worth $36,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. Rothschild & Co Redburn reduced their price target on Intuit from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. Daiwa Securities Group dropped their price target on shares of Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Wolfe Research reissued an “outperform” rating and set a $400.00 price objective on shares of Intuit in a research report on Thursday, May 21st. Wall Street Zen lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Bank of America assumed coverage on shares of Intuit in a report on Wednesday, May 27th. They issued a “buy” rating and a $400.00 target price for the company. Twenty-two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $498.40.

Intuit Stock Up 3.9%

Shares of Intuit stock traded up $10.54 on Tuesday, reaching $282.68. The company’s stock had a trading volume of 1,371,818 shares, compared to its average volume of 4,450,278. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $813.70. The firm’s fifty day simple moving average is $325.83 and its two-hundred day simple moving average is $432.20. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $77.32 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.01 and a beta of 1.00.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same period in the prior year, the company posted $11.65 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Equities analysts anticipate that Intuit Inc. will post 18.19 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 9th. Intuit’s payout ratio is presently 29.07%.

Insider Buying and Selling

In related news, Director Vasant M. Prabhu acquired 1,250 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $309.45 per share, for a total transaction of $386,812.50. Following the completion of the transaction, the director directly owned 1,250 shares in the company, valued at approximately $386,812.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard L. Dalzell sold 338 shares of the firm’s 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 sale, the director owned 12,326 shares in the company, valued at $3,449,554.36. This 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 90 days, insiders have sold 1,239 shares of company stock worth $348,354. 2.49% of the stock is owned by insiders.

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; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.