Elevation Point Wealth Partners LLC Grows Position in Intuit Inc. $INTU

Elevation Point Wealth Partners LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 80.9% during the first quarter, HoldingsChannel reports. The firm owned 5,957 shares of the software maker’s stock after purchasing an additional 2,664 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Intuit were worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Joseph Group Capital Management purchased a new stake in shares of Intuit during the fourth quarter valued at $25,000. Intesa Sanpaolo Wealth Management purchased a new position in Intuit in the 4th quarter worth $25,000. HHM Wealth Advisors LLC lifted its position in Intuit by 75.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after acquiring an additional 30 shares during the period. CrossGen Wealth LLC acquired a new stake in Intuit during the 1st quarter worth about $32,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Intuit during the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $275.35 on Friday. The business’s 50-day moving average price is $325.83 and its 200 day moving average price is $433.75. 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 has a market cap of $75.32 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $813.70.

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. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.Intuit’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $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. As a group, sell-side analysts anticipate that Intuit Inc. will post 18.19 earnings per share for the current year.

Intuit Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Vasant M. Prabhu bought 500 shares of the stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $309.71 per share, with a total value of $154,855.00. Following the purchase, the director directly owned 1,750 shares in the company, valued at $541,992.50. The trade was a 40.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard L. Dalzell sold 284 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the sale, the director owned 11,758 shares in the company, valued at $3,084,358.56. This trade represents a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,239 shares of company stock worth $348,354 over the last three months. 2.49% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Oppenheimer dropped their target price on Intuit from $558.00 to $406.00 and set an “outperform” rating on the stock in a research report on Thursday, May 21st. Daiwa Securities Group cut their price target on shares of Intuit from $640.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Evercore reduced their price target on shares of Intuit from $540.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, May 21st. Finally, Truist Financial decreased their price objective on shares of Intuit from $500.00 to $410.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Twenty-two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus 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.