Resona Asset Management Co. Ltd. Raises Stock Holdings in Intuit Inc. $INTU

Resona Asset Management Co. Ltd. increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,009 shares of the software maker’s stock after acquiring an additional 2,119 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Intuit were worth $41,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INTU. Vanguard Group Inc. raised its stake in shares of Intuit by 1.0% during the 4th 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 during the period. State Street Corp grew its position in Intuit by 1.4% during the fourth quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock valued at $8,653,092,000 after buying an additional 180,069 shares during the period. Geode Capital Management LLC grew its position in Intuit by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock valued at $4,369,488,000 after buying an additional 87,451 shares during the period. Morgan Stanley increased its holdings in Intuit by 1.2% during the fourth quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock worth $3,378,912,000 after buying an additional 60,910 shares during the last quarter. Finally, Norges Bank purchased a new stake in Intuit during the fourth quarter worth about $3,058,407,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard L. Dalzell sold 338 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total value of $94,592.68. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 1,250 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $309.45 per share, with a total value of $386,812.50. Following the completion of the acquisition, the director directly owned 1,250 shares of the company’s stock, valued at approximately $386,812.50. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 1,239 shares of company stock valued at $348,354 over the last quarter. 2.49% of the stock is owned by company insiders.

More Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Some analysts still see significant upside in Intuit, with the stock maintaining a consensus Buy rating and a median 12-month target around $446.50. Stifel and Goldman Cut Intuit (INTU) Ratings
• Positive Sentiment: Several bullish commentary pieces argue INTU looks undervalued after its recent selloff and that AI fears may be overdone, suggesting the stock could be forming a bottom. Intuit: Signs Of A Bottom, Shares Way Too Cheap As The AI Trade Wobbles
• Positive Sentiment: Recent coverage says investors have rotated back into beaten-down software names, helping support a rebound in Intuit and peers. Atlassian and Intuit Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Intuit CFO Sandeep Aujla was highlighted in an interview, but the item did not include new financial guidance or material business updates. Intuit CFO Sandeep Aujla on the power of possibility
• Neutral Sentiment: Articles noted that QuickBooks Desktop retirement could benefit some bookkeeping firms, though this is more of an industry transition than a direct catalyst for Intuit shares. Remote Quality Bookkeeping Expands with New Massachusetts Office as Small Businesses Face QuickBooks Desktop Retirement
• Negative Sentiment: Stifel and Goldman cutting ratings likely added to near-term selling pressure and reinforced investor caution around Intuit’s valuation. Stifel and Goldman Cut Intuit (INTU) Ratings
• Negative Sentiment: Some analysis argues that growth in a key flagship product has cooled and that management is shifting the growth narrative, which raises concerns about the durability of future expansion. The Done-For-You Silence That Reshapes The Intuit Stock Growth Story
• Negative Sentiment: Another article highlighted TurboTax headwinds as already priced into the stock, underscoring ongoing concern about Intuit’s core tax franchise. Intuit: TurboTax Headwinds Are Priced Into This Deep Value Stock
• Negative Sentiment: A securities-fraud investigation announcement added further downside sentiment after the stock’s sharp decline and may keep investor confidence subdued in the near term. INTU Investment Loss: Intuit Investors that Lost Money after Pricing Issues Disclosed are Notified to Contact BFA Law about its Securities Fraud Investigation

Intuit Price Performance

NASDAQ INTU opened at $272.10 on Thursday. The company has a market cap of $74.43 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.03 and a beta of 1.00. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $813.70. 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 firm’s 50-day simple moving average is $318.96 and its two-hundred day simple moving average is $423.93.

Intuit (NASDAQ:INTU) last posted its earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping the consensus estimate of $12.57 by $0.23. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. 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 earnings per share. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Research analysts predict that Intuit Inc. will post 18.19 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $4.80 annualized dividend and a yield of 1.8%. Intuit’s dividend payout ratio (DPR) is 29.07%.

Analysts Set New Price Targets

A number of research analysts have weighed in on INTU shares. Evercore dropped their target price on shares of Intuit from $540.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Citigroup decreased their price target on shares of Intuit from $649.00 to $591.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Truist Financial lowered their price target on shares of Intuit from $500.00 to $410.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. KeyCorp dropped their price objective on Intuit from $520.00 to $450.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. Finally, Guggenheim set a $633.00 price objective on Intuit in a report on Monday, March 16th. Twenty-two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $498.40.

Intuit 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.