Granite Investment Partners LLC Cuts Stock Position in Intuit Inc. $INTU

Granite Investment Partners LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 18.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,897 shares of the software maker’s stock after selling 2,677 shares during the quarter. Granite Investment Partners LLC’s holdings in Intuit were worth $5,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Joseph Group Capital Management bought a new stake in shares of Intuit during the 4th quarter worth $25,000. Intesa Sanpaolo Wealth Management bought a new position in Intuit during the fourth quarter valued at about $25,000. HHM Wealth Advisors LLC grew its position in Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock valued at $30,000 after buying an additional 30 shares during the period. CrossGen Wealth LLC purchased a new stake in Intuit during the first quarter worth about $32,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Intuit during the third quarter worth about $33,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Rothschild & Co Redburn dropped their target price on shares of Intuit from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. HSBC decreased their price target on shares of Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Citigroup lowered their price target on shares of Intuit from $649.00 to $591.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. BNP Paribas Exane dropped their price objective on Intuit from $463.00 to $315.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. Finally, Weiss Ratings lowered Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $498.40.

Insider Activity

In other news, Director Vasant M. Prabhu acquired 500 shares of Intuit stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $309.71 per share, with a total value of $154,855.00. Following the completion of the purchase, the director owned 1,750 shares in the company, valued at approximately $541,992.50. The trade was a 40.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard L. Dalzell sold 284 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total transaction of $74,498.88. Following the sale, the director directly owned 11,758 shares in the company, valued at $3,084,358.56. This trade represents a 2.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,239 shares of company stock worth $348,354. Company insiders own 2.49% of the company’s stock.

Key Stories Impacting Intuit

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 Trading Down 3.2%

NASDAQ:INTU opened at $272.10 on Thursday. Intuit Inc. has a 1 year low of $252.84 and a 1 year high of $813.70. The stock’s fifty day moving average price is $318.96 and its two-hundred day moving average price is $423.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $74.43 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.03 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 for the quarter, beating the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $8.54 billion. During the same period in the previous year, the business earned $11.65 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. 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, analysts expect that Intuit Inc. will post 18.19 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, July 9th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, July 9th. Intuit’s payout ratio is presently 29.07%.

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.