Sheets Smith Wealth Management Sells 3,746 Shares of Intuit Inc. $INTU

Sheets Smith Wealth Management decreased its stake in Intuit Inc. (NASDAQ:INTU) by 23.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,088 shares of the software maker’s stock after selling 3,746 shares during the quarter. Sheets Smith Wealth Management’s holdings in Intuit were worth $5,227,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock worth $19,156,152,000 after purchasing an additional 296,448 shares during the last quarter. State Street Corp boosted its position in Intuit by 1.4% in the fourth quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock valued at $8,653,092,000 after buying an additional 180,069 shares in the last quarter. Geode Capital Management LLC grew its stake in Intuit by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock worth $4,369,488,000 after buying an additional 87,451 shares during the last quarter. Morgan Stanley increased its holdings in shares of Intuit by 1.2% during the fourth quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock worth $3,378,912,000 after buying an additional 60,910 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Intuit in the fourth quarter valued at approximately $3,058,407,000. 83.66% of the stock is currently owned by institutional investors.

More Intuit News

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Intuit’s latest quarterly results were solid, with EPS and revenue both beating estimates and revenue rising 10.4% year over year, while Credit Karma continued to show traction with 15% revenue growth. Credit Karma Gains Traction: Can It Continue Boosting Intuit’s Growth?
• Positive Sentiment: Some commentary remains constructive on Intuit’s AI strategy, with the company pushing automation across tax, accounting, and marketing tools and repositioning itself around AI-driven products. Intuit (INTU) Cuts 17% Of Jobs As It Pushes Harder Into AI
• Neutral Sentiment: Intuit raised about $1.74 billion through senior notes, which adds financial flexibility but also increases leverage slightly. Is Intuit (INTU) One of the Best Generative AI Software Stocks to Buy?
• Negative Sentiment: Stifel downgraded Intuit to Hold from Buy and cut its price target sharply to $275 from $375, citing growth concerns and the risk that guidance could come down as pricing changes take effect. Stifel downgrades Intuit to Hold on growth concerns, cuts target price
• Negative Sentiment: Several reports say the stock has been hit by AI fears and a steep post-earnings selloff, with investors questioning whether growth can reaccelerate soon. Intuit (INTU) Down 13.1% Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: Intuit also faces legal overhang after law firms announced investigations into possible securities fraud tied to pricing issues and the stock’s sharp decline. Investor Rights Alert: Intuit (INTU) is being Investigated by BFA Law for Securities Fraud after Pricing Issues Cause 20% Stock Drop

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Freedom Capital lowered Intuit from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft dropped their price target on Intuit from $600.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Jefferies Financial Group reduced their price objective on Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Mizuho decreased their target price on Intuit from $600.00 to $500.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada lowered their target price on Intuit from $600.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, May 21st. Twenty-three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $511.35.

Insider Activity

In other Intuit news, Director Richard L. Dalzell sold 338 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the transaction, the director directly owned 12,326 shares in the company, valued at approximately $3,449,554.36. This represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu bought 1,250 shares of Intuit stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $309.45 per share, for a total transaction of $386,812.50. Following the purchase, the director directly owned 1,250 shares in the company, valued at approximately $386,812.50. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 955 shares of company stock worth $273,855. 2.49% of the stock is owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $267.00 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a 50 day simple moving average of $349.67 and a 200 day simple moving average of $461.22. Intuit Inc. has a fifty-two week low of $259.23 and a fifty-two week high of $813.70. The firm has a market cap of $73.04 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.98 and a beta of 0.98.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $0.23. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.65 EPS. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Sell-side analysts predict that Intuit Inc. will post 18.18 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be issued a $1.20 dividend. The ex-dividend date is Thursday, July 9th. This represents a $4.80 annualized dividend and a yield of 1.8%. Intuit’s dividend payout ratio (DPR) is currently 29.07%.

About Intuit

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.