Bank of America Corp DE Has $764.88 Million Stake in Intuit Inc. $INTU

Bank of America Corp DE reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,768,998 shares of the software maker’s stock after selling 166,329 shares during the quarter. Bank of America Corp DE’s holdings in Intuit were worth $764,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in INTU. Norges Bank bought a new position in Intuit during the fourth quarter worth $3,058,407,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Intuit by 102.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock valued at $1,684,795,000 after purchasing an additional 1,972,719 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new position in shares of Intuit in the first quarter valued at about $785,564,000. Amundi boosted its holdings in shares of Intuit by 44.9% during the 1st quarter. Amundi now owns 1,563,158 shares of the software maker’s stock worth $675,878,000 after buying an additional 484,602 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Intuit by 20.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock worth $1,848,954,000 after buying an additional 471,451 shares during the period. Institutional investors own 83.66% of the company’s stock.

Trending Headlines about Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit is increasing its marketing presence on ChatGPT as major brands shift advertising budgets toward the platform. The move could help Intuit reach more consumers and support customer acquisition for TurboTax and its broader financial-product ecosystem, although the near-term financial impact is uncertain. Brands like Home Depot, Intuit, and Booking are betting bigger on ChatGPT ads
• Positive Sentiment: Intuit and College Board announced free financial-literacy tools for high school classrooms through a new AP Business with Personal Finance course. The partnership may strengthen Intuit’s brand and create longer-term engagement opportunities, but it is unlikely to materially affect near-term earnings. Intuit and College Board Partner to Bring Free Financial Tools
• Neutral Sentiment: Intuit will report fourth-quarter and full-year fiscal 2026 results after the market closes on August 25, followed by an investor day on September 17. Investors will likely look for updates on TurboTax demand, AI investments, restructuring and fiscal 2027 guidance. Intuit to Announce Fourth-Quarter and Full-Year Fiscal 2026 Results
• Negative Sentiment: An Ontario court certified a consumer-protection and competition class action against Intuit Canada and Intuit Inc. involving allegations that TurboTax’s “free” advertising was misleading. Certification allows the case to proceed and increases potential litigation costs, damages exposure and reputational risk; the allegations have not been proven. Ontario Superior Court Certifies Consumer Protection and Competition Act Class Action Against Intuit
• Negative Sentiment: Multiple law firms announced or promoted a U.S. securities class action covering investors who purchased INTU between August 22, 2025 and May 20, 2026. The complaints reportedly involve alleged misrepresentations concerning TurboTax growth prospects and investor harm after significant stock declines. Investors face a September 8, 2026 deadline to seek lead-plaintiff status. The repeated notices add headline and legal overhang, though they do not represent new financial results or a court finding against Intuit. Class Action Filed Alleging Investor Harm

Intuit Trading Up 0.2%

Shares of INTU stock opened at $316.07 on Friday. The stock has a market cap of $86.46 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $807.15. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $289.00 and a 200 day simple moving average of $382.07.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $11.65 EPS. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. On average, research analysts predict that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Thursday, July 9th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, July 9th. Intuit’s payout ratio is 29.07%.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 338 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $279.86, for a total value of $94,592.68. Following the transaction, the director directly owned 12,326 shares of the company’s stock, valued at $3,449,554.36. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 1,250 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $309.45 per share, with a total value 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 represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on INTU shares. The Goldman Sachs Group cut shares of Intuit from a “neutral” rating to a “sell” rating and lowered their price target for the company from $519.00 to $276.00 in a report on Tuesday, June 2nd. Wall Street Zen downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Wolfe Research reiterated an “outperform” rating and set a $400.00 target price on shares of Intuit in a research note on Thursday, May 21st. Susquehanna dropped their price target on Intuit from $550.00 to $427.00 and set a “positive” rating for the company in a report on Monday, July 20th. Finally, Royal Bank Of Canada decreased their price objective on Intuit from $600.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Twenty equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $462.39.

Intuit Company Profile

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.