Hartford Investment Management Co. Decreases Stock Holdings in Intuit Inc. $INTU

Hartford Investment Management Co. decreased its position in Intuit Inc. (NASDAQ:INTU) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,868 shares of the software maker’s stock after selling 212 shares during the quarter. Hartford Investment Management Co.’s holdings in Intuit were worth $13,286,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of INTU. Cadent Capital Advisors LLC purchased a new position in shares of Intuit during the second quarter valued at about $269,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Intuit by 2,077.3% during the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 8,644 shares of the software maker’s stock valued at $6,808,000 after buying an additional 8,247 shares during the period. Perigon Wealth Management LLC increased its position in shares of Intuit by 6.0% during the second quarter. Perigon Wealth Management LLC now owns 5,558 shares of the software maker’s stock valued at $4,378,000 after buying an additional 316 shares during the period. Plancorp LLC increased its position in shares of Intuit by 12.1% during the second quarter. Plancorp LLC now owns 1,008 shares of the software maker’s stock valued at $794,000 after buying an additional 109 shares during the period. Finally, Motive Wealth Advisors purchased a new position in shares of Intuit during the second quarter valued at about $270,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTU. Morgan Stanley reduced their price target on shares of Intuit from $900.00 to $880.00 and set an “overweight” rating on the stock in a research report on Friday, August 22nd. Oppenheimer boosted their price target on shares of Intuit from $742.00 to $868.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Stifel Nicolaus dropped their price objective on shares of Intuit from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. KeyCorp dropped their price objective on shares of Intuit from $850.00 to $825.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. Finally, CLSA started coverage on shares of Intuit in a research note on Thursday, June 26th. They set an “outperform” rating and a $900.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $791.82.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 2,591 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the completion of the transaction, the chief financial officer owned 768 shares in the company, valued at approximately $600,744.96. This represents a 77.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,141 shares of company stock valued at $6,195,865. 2.68% of the stock is currently owned by insiders.

Intuit Trading Down 0.3%

Shares of NASDAQ INTU opened at $692.68 on Friday. The firm’s 50 day moving average price is $711.13 and its 200-day moving average price is $687.65. The company has a market cap of $193.12 billion, a PE ratio of 50.41, a P/E/G ratio of 2.68 and a beta of 1.26. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.75 billion. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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. On average, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, October 9th will be paid a $1.20 dividend. This is a boost from Intuit’s previous quarterly dividend of $1.04. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 9th. Intuit’s payout ratio is currently 30.28%.

About Intuit

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.