State of New Jersey Common Pension Fund D Sells 19 Shares of Intuit Inc. $INTU

State of New Jersey Common Pension Fund D reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.0% in the 2nd quarter, Holdings Channel reports. The firm owned 94,402 shares of the software maker’s stock after selling 19 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Intuit were worth $74,354,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. NatWest Group plc bought a new position in shares of Intuit in the 2nd quarter worth about $10,466,000. Sage Mountain Advisors LLC raised its position in shares of Intuit by 11.0% in the 2nd quarter. Sage Mountain Advisors LLC now owns 1,670 shares of the software maker’s stock worth $1,315,000 after acquiring an additional 166 shares in the last quarter. Washington Trust Advisors Inc. raised its position in shares of Intuit by 176.3% in the 2nd quarter. Washington Trust Advisors Inc. now owns 268 shares of the software maker’s stock worth $211,000 after acquiring an additional 171 shares in the last quarter. AlphaQuest LLC raised its position in shares of Intuit by 5,957.1% in the 2nd quarter. AlphaQuest LLC now owns 424 shares of the software maker’s stock worth $334,000 after acquiring an additional 417 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Intuit by 4.6% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 793,399 shares of the software maker’s stock worth $624,905,000 after acquiring an additional 35,169 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $661.15, for a total value of $220,162.95. Following the transaction, the director owned 14,475 shares in the company, valued at $9,570,146.25. The trade was a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,170 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $677.06, for a total value of $792,160.20. Following the completion of the transaction, the chief financial officer owned 1,295 shares in the company, valued at $876,792.70. The trade was a 47.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,407 shares of company stock worth $1,614,913 in the last 90 days. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INTU shares. Stifel Nicolaus reduced their target price on Intuit from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Zacks Research downgraded Intuit from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Bank of America reduced their target price on Intuit from $875.00 to $800.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Finally, Citigroup reduced their target price on Intuit from $815.00 to $803.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $791.82.

Intuit Price Performance

INTU stock opened at $683.09 on Friday. The company has a market capitalization of $190.45 billion, a P/E ratio of 49.72, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. 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 Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The business has a 50-day simple moving average of $671.78 and a two-hundred day simple moving average of $697.98.

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

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Thursday, October 9th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, October 9th. This is a boost from Intuit’s previous quarterly dividend of $1.04. Intuit’s dividend payout ratio (DPR) is presently 34.93%.

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.