Grove Bank & Trust Boosts Stock Position in Intuit Inc. $INTU

Grove Bank & Trust boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 994 shares of the software maker’s stock after acquiring an additional 18 shares during the quarter. Grove Bank & Trust’s holdings in Intuit were worth $783,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Invesco Ltd. increased its stake in shares of Intuit by 1.2% during the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock valued at $1,890,282,000 after buying an additional 36,513 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Intuit by 4.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker’s stock valued at $1,130,718,000 after acquiring an additional 82,419 shares in the last quarter. Vident Advisory LLC increased its position in Intuit by 22.1% during the 1st quarter. Vident Advisory LLC now owns 46,940 shares of the software maker’s stock valued at $28,821,000 after purchasing an additional 8,510 shares during the period. Circle Wealth Management LLC lifted its position in shares of Intuit by 33.4% in the 1st quarter. Circle Wealth Management LLC now owns 3,451 shares of the software maker’s stock worth $2,119,000 after purchasing an additional 865 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its position in shares of Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker’s stock worth $10,922,000 after purchasing an additional 623 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 2,591 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of the transaction, the chief financial officer owned 768 shares in the company, valued at $600,744.96. The trade was a 77.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark P. Notarainni sold 1,147 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the transaction, the executive vice president directly owned 19 shares of the company’s stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,879 shares of company stock valued at $7,558,613. 2.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INTU. Bank of America decreased their price target on shares of Intuit from $875.00 to $800.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. UBS Group reduced their target price on Intuit from $750.00 to $725.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Stifel Nicolaus lowered 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. Susquehanna restated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. Finally, CLSA initiated coverage on Intuit in a report on Thursday, June 26th. They issued an “outperform” rating and a $900.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $797.62.

Intuit Stock Up 1.9%

Shares of NASDAQ:INTU opened at $674.96 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $716.65 and a two-hundred day simple moving average of $684.44. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The stock has a market capitalization of $188.18 billion, a price-to-earnings ratio of 49.12, a PEG ratio of 2.56 and a beta of 1.26.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. The firm 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 revenue was up 20.3% on a year-over-year basis. 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. On average, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share 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%.

Intuit Company Profile

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.