Magellan Asset Management Ltd Sells 70,936 Shares of Intuit Inc. $INTU

Magellan Asset Management Ltd trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,001 shares of the software maker’s stock after selling 70,936 shares during the period. Intuit accounts for about 2.4% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 15th biggest holding. Magellan Asset Management Ltd owned approximately 0.09% of Intuit worth $207,147,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Westside Investment Management Inc. boosted its holdings in Intuit by 161.5% during the second quarter. Westside Investment Management Inc. now owns 34 shares of the software maker’s stock worth $27,000 after purchasing an additional 21 shares during the last quarter. Dogwood Wealth Management LLC lifted its position in shares of Intuit by 111.8% in the second quarter. Dogwood Wealth Management LLC now owns 36 shares of the software maker’s stock valued at $28,000 after buying an additional 19 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Intuit by 270.0% in the second quarter. True Wealth Design LLC now owns 37 shares of the software maker’s stock valued at $29,000 after purchasing an additional 27 shares during the last quarter. Vista Cima Wealth Management LLC bought a new position in Intuit in the 1st quarter valued at about $31,000. Finally, CBIZ Investment Advisory Services LLC increased its stake in shares of Intuit by 1,566.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 50 shares of the software maker’s stock worth $31,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard L. Dalzell sold 333 shares of the company’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 completion of the transaction, the director directly owned 14,475 shares of the company’s stock, valued at $9,570,146.25. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,170 shares of Intuit stock in a transaction 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 sale, the chief financial officer owned 1,295 shares in the company, valued at $876,792.70. This trade represents a 47.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,407 shares of company stock valued at $1,614,913. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INTU shares. JPMorgan Chase & Co. dropped their price objective 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. UBS Group cut their price target on Intuit from $750.00 to $725.00 and set a “neutral” rating for the company in a research note on Friday, August 22nd. Rothschild & Co Redburn raised their price objective on Intuit from $560.00 to $670.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $850.00 price objective on shares of Intuit in a report on Tuesday, September 2nd. Finally, Wall Street Zen raised Intuit from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $791.82.

Intuit Stock Performance

Intuit stock opened at $648.85 on Friday. The stock has a market cap of $180.90 billion, a PE ratio of 47.22, a P/E/G ratio of 2.53 and a beta of 1.25. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $668.65 and its two-hundred day moving average price is $704.35. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. The company 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 firm’s revenue was up 20.3% compared to the same quarter last year. During the same period last 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, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Increases Dividend

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