3,253 Intuit Inc. $INTU Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 12.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,334 shares of the software maker’s stock after selling 3,253 shares during the period. Parallel Advisors LLC’s holdings in Intuit were worth $6,158,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. XXEC Inc. acquired a new position in shares of Intuit in the second quarter worth about $436,740,000. BlackRock Inc. purchased a new stake in shares of Intuit during the 2nd quarter worth about $6,851,859,000. Corient Private Wealth LP acquired a new stake in shares of Intuit during the 2nd quarter valued at about $40,545,000. Bank of America Corp DE acquired a new stake in shares of Intuit during the 2nd quarter valued at about $589,841,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Intuit in the 2nd quarter valued at about $564,592,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INTU. Bank of America cut Intuit from a “buy” rating to a “neutral” rating and set a $360.00 price target for the company. in a report on Wednesday, August 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $385.00 price objective on shares of Intuit in a report on Friday, October 2nd. Wells Fargo & Company cut their price objective on Intuit from $360.00 to $300.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 26th. Mizuho reaffirmed an “outperform” rating and set a $430.00 target price on shares of Intuit in a research note on Friday, September 18th. Finally, Evercore reiterated an “outperform” rating on shares of Intuit in a research report on Friday, September 18th. Sixteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $431.55.

Intuit Stock Down 3.8%

INTU stock opened at $341.50 on Friday. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $682.27. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $318.61 and a 200-day simple moving average of $357.13. The stock has a market capitalization of $91.26 billion, a P/E ratio of 20.70, a P/E/G ratio of 1.13 and a beta of 0.91.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, August 25th. The software maker reported $4.03 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same period last year, the company posted $2.75 EPS. Intuit’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. Equities analysts forecast that Intuit Inc. will post 23.02 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, October 8th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.6%. This is a boost from Intuit’s previous quarterly dividend of $1.20. The ex-dividend date was Thursday, October 8th. Intuit’s dividend payout ratio (DPR) is 33.45%.

Insider Activity at Intuit

In related news, Director Richard L. Dalzell sold 285 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total value of $92,727.60. Following the completion of the transaction, the director directly owned 11,531 shares of the company’s stock, valued at approximately $3,751,726.16. This represents a 2.41% decrease in their position. The transaction was disclosed in a document filed 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, CAO Lauren D. Hotz sold 907 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the transaction, the chief accounting officer directly owned 1,628 shares of the company’s stock, valued at approximately $564,167.12. This represents a 35.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.49% of the company’s stock.

Intuit Company Profile

Intuit Inc develops financial management and business software for consumers, small businesses, and accounting professionals. Its products and services help users manage personal finances, prepare taxes, run businesses, handle payments, and support marketing activities.

Its offerings include TurboTax for tax preparation, QuickBooks for accounting and business management, Credit Karma for personal finance, and Mailchimp for email marketing and customer engagement. Intuit serves customers in the United States and other markets around the world.

Founded in 1983 by Scott Cook and Tom Proulx, Intuit is headquartered in Mountain View, California.