6,628 Intuit Inc. $INTU Shares Bought by Rockland Trust Co.

Rockland Trust Co. boosted its position in Intuit Inc. (NASDAQ:INTU) by 8.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 82,444 shares of the software maker’s stock after purchasing an additional 6,628 shares during the quarter. Rockland Trust Co.’s holdings in Intuit were worth $22,731,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. XXEC Inc. bought a new stake in Intuit during the second quarter valued at $436,740,000. BlackRock Inc. bought a new position in Intuit in the 2nd quarter worth about $6,851,859,000. State Street Corp increased its stake in Intuit by 1.4% in the 4th quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock worth $8,653,092,000 after acquiring an additional 180,069 shares during the last quarter. Corient Private Wealth LP purchased a new stake in shares of Intuit in the 2nd quarter valued at about $40,545,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Intuit by 102.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,896,561 shares of the software maker’s stock valued at $1,684,795,000 after acquiring an additional 1,972,719 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU traded up $0.72 during mid-day trading on Monday, reaching $281.80. The company’s stock had a trading volume of 1,398,140 shares, compared to its average volume of 4,282,503. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $689.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market capitalization of $75.31 billion, a PE ratio of 17.08, a P/E/G ratio of 0.82 and a beta of 1.01. The stock has a fifty day moving average of $324.10 and a two-hundred day moving average of $337.49.

Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.45. Intuit had a return on equity of 25.97% and a net margin of 21.29%.The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the company earned $2.75 EPS. The company’s quarterly revenue 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. As a group, sell-side analysts anticipate that Intuit Inc. will post 23.01 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Thursday, October 8th will be given a $1.38 dividend. This is an increase from Intuit’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $5.52 dividend on an annualized basis and a yield of 2.0%. Intuit’s dividend payout ratio is currently 29.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INTU shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $385.00 price objective on shares of Intuit in a report on Friday. Stifel Nicolaus restated a “hold” rating and issued a $300.00 price objective on shares of Intuit in a report on Friday, September 18th. TD Cowen reaffirmed a “hold” rating and issued a $346.00 price target on shares of Intuit in a research report on Friday, September 18th. Citigroup decreased their price objective on shares of Intuit from $591.00 to $457.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. lowered Intuit from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $605.00 to $331.00 in a research report on Wednesday, August 26th. Sixteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Hold” and an average price target of $431.55.

Insider Buying and Selling

In related news, Director Richard Dalzell sold 285 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total transaction of $92,727.60. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at $3,751,726.16. The trade was a 2.41% decrease in their position. The transaction was disclosed in a legal filing 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 Hotz sold 907 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $346.54, for a total transaction of $314,311.78. Following the completion of the transaction, the chief accounting officer directly owned 1,628 shares in the company, valued at $564,167.12. This represents a 35.78% decrease in their position. The SEC filing for this sale provides additional information. 2.49% of the stock is currently owned by company insiders.

Intuit Company Profile

Intuit Inc is a global financial technology and business software company headquartered in Mountain View, California. The company develops products designed to help consumers, small businesses and accounting professionals manage finances, prepare taxes, operate businesses and make financial decisions.

Its principal products and services include TurboTax, a tax preparation and filing platform; QuickBooks, which provides accounting, payroll, payments and related business management tools; Credit Karma, a personal finance platform offering credit monitoring and financial product recommendations; and Mailchimp, an email marketing and customer engagement service for businesses.

Intuit was founded in 1983 by Scott Cook and Tom Proulx.