Concorde Asset Management LLC Sells 102 Shares of Intuit Inc. $INTU

Concorde Asset Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 18.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 439 shares of the software maker’s stock after selling 102 shares during the period. Concorde Asset Management LLC’s holdings in Intuit were worth $262,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. increased its holdings in Intuit by 1.2% during the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock worth $1,890,282,000 after buying an additional 36,513 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Intuit by 4.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker’s stock worth $1,130,718,000 after acquiring an additional 82,419 shares during the period. Vident Advisory LLC raised its position in Intuit by 22.1% in the first quarter. Vident Advisory LLC now owns 46,940 shares of the software maker’s stock worth $28,821,000 after acquiring an additional 8,510 shares during the period. Pinnacle Financial Partners Inc raised its position in Intuit by 3.6% in the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker’s stock worth $10,922,000 after acquiring an additional 623 shares during the period. Finally, Circle Wealth Management LLC raised its position in Intuit by 33.4% in the first quarter. Circle Wealth Management LLC now owns 3,451 shares of the software maker’s stock worth $2,119,000 after acquiring an additional 865 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,738 shares of the business’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the transaction, the chief accounting officer owned 455 shares of the company’s stock, valued at approximately $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the transaction, the executive vice president directly owned 19 shares of the company’s stock, valued at approximately $14,704.10. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,029 shares of company stock valued at $55,231,998 in the last quarter. 2.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Bank of America reduced their target price on shares of Intuit from $875.00 to $800.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $850.00 target price on shares of Intuit in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Intuit from $770.00 to $750.00 and set an “overweight” rating for the company in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $797.62.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $668.68 on Thursday. The company has a 50 day moving average of $741.67 and a 200 day moving average of $678.72. The stock has a market cap of $186.53 billion, a P/E ratio of 48.67, a P/E/G ratio of 2.57 and a beta of 1.26. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The company has a current ratio of 1.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Intuit had a net margin of 20.55% and a return on equity of 22.72%. Intuit’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.99 earnings per share. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Thursday, October 9th will be paid a dividend of $1.20 per share. This is an increase from Intuit’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, October 9th. Intuit’s dividend payout ratio is presently 30.28%.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.