Washburn Capital Management Inc. Makes New Investment in Intuit Inc. $INTU

Washburn Capital Management Inc. bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,464 shares of the software maker’s stock, valued at approximately $679,000.

A number of other large investors have also bought and sold shares of the stock. Fiduciary Financial Advisors bought a new stake in Intuit in the second quarter valued at $25,000. Sankala Group LLC acquired a new position in shares of Intuit during the fourth quarter valued at about $40,000. Whipplewood Advisors LLC acquired a new position in shares of Intuit during the first quarter valued at about $30,000. HHM Wealth Advisors LLC boosted its position in shares of Intuit by 75.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Finally, CrossGen Wealth LLC bought a new position in shares of Intuit during the 1st quarter worth about $32,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 0.0%

Shares of NASDAQ INTU traded down $0.15 during mid-day trading on Monday, reaching $325.00. 1,035,018 shares of the company’s stock traded hands, compared to its average volume of 4,250,520. The stock has a market cap of $86.85 billion, a P/E ratio of 19.69, a PEG ratio of 0.95 and a beta of 1.01. The business has a 50-day simple moving average of $321.16 and a 200 day simple moving average of $327.91. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $689.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.51 and a quick ratio of 1.51.

Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 25th. The software maker reported $4.03 EPS for the quarter, topping the consensus estimate of $3.58 by $0.45. Intuit had a net margin of 21.29% and a return on equity of 25.97%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the previous year, the firm posted $2.75 earnings per share. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Intuit has set its Q1 2027 guidance at 2.440-2.480 EPS and its FY 2027 guidance at 22.880-23.120 EPS. On average, analysts expect that Intuit Inc. will post 23.02 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Thursday, October 8th were issued a dividend of $1.38 per share. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. This is an increase from Intuit’s previous quarterly dividend of $1.20. Intuit’s dividend payout ratio is presently 33.45%.

Analysts Set New Price Targets

Several analysts have recently commented on INTU shares. TD Cowen restated a “hold” rating and issued a $346.00 target price on shares of Intuit in a research note on Friday, September 18th. Evercore reaffirmed an “outperform” rating on shares of Intuit in a research note on Friday, September 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $300.00 price target on shares of Intuit in a report on Friday, September 18th. JPMorgan Chase & Co. lowered Intuit from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $605.00 to $331.00 in a report on Wednesday, August 26th. Finally, Wells Fargo & Company reduced their price objective on Intuit from $360.00 to $300.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 26th. Sixteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Hold” and an average target price of $431.55.

Insider Activity at Intuit

In other news, Director Richard Dalzell sold 285 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $325.36, for a total value of $92,727.60. Following the completion of the sale, the director directly owned 11,531 shares of the company’s stock, valued at $3,751,726.16. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Lauren Hotz sold 907 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $346.54, for a total value of $314,311.78. Following the completion of the transaction, the chief accounting officer owned 1,628 shares in the company, valued at $564,167.12. This represents a 35.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.49% of the company’s stock.

Intuit Profile

Intuit Inc is a global financial technology and business software company that develops products designed to help consumers, small businesses and accounting professionals manage finances, taxes and marketing. Its ecosystem combines financial management, tax preparation, accounting, payments and customer relationship tools.

The company’s principal products include TurboTax for tax preparation, QuickBooks for accounting, invoicing, payroll and payments, Credit Karma for personal financial services, and Mailchimp for marketing automation and customer engagement.