Elevation Point Wealth Partners LLC Acquires 2,664 Shares of Intuit Inc. $INTU

Elevation Point Wealth Partners LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 80.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,957 shares of the software maker’s stock after acquiring an additional 2,664 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Intuit were worth $2,576,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in Intuit in the 4th quarter valued at $3,058,407,000. Alliancebernstein L.P. lifted its position in shares of Intuit by 183.8% during the third quarter. Alliancebernstein L.P. now owns 1,999,737 shares of the software maker’s stock worth $1,365,640,000 after purchasing an additional 1,295,199 shares during the last quarter. Nicholas Hoffman & Company LLC. bought a new stake in shares of Intuit during the first quarter worth $785,564,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Intuit by 36.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,923,842 shares of the software maker’s stock valued at $1,274,391,000 after purchasing an additional 512,684 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Intuit by 20.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,791,212 shares of the software maker’s stock valued at $1,848,954,000 after purchasing an additional 471,451 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, Director Vasant M. Prabhu acquired 500 shares of the stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $309.71 per share, with a total value of $154,855.00. Following the transaction, the director directly owned 1,750 shares of the company’s stock, valued at $541,992.50. This trade represents a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard L. Dalzell sold 284 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $262.32, for a total value of $74,498.88. Following the transaction, the director owned 11,758 shares in the company, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,239 shares of company stock valued at $348,354. 2.49% of the stock is owned by insiders.

Intuit Price Performance

Shares of INTU stock opened at $275.35 on Friday. The stock’s 50-day moving average is $325.83 and its 200 day moving average is $433.75. Intuit Inc. has a 1-year low of $252.84 and a 1-year high of $813.70. 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 company has a market cap of $75.32 billion, a P/E ratio of 16.68, a PEG ratio of 1.01 and a beta of 1.00.

Intuit (NASDAQ:INTU) last announced its earnings results on Wednesday, May 20th. The software maker reported $12.80 EPS for the quarter, topping analysts’ consensus estimates of $12.57 by $0.23. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. Intuit had a net margin of 21.91% and a return on equity of 25.18%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $11.65 earnings per share. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. Research analysts predict that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Intuit’s dividend payout ratio is presently 29.07%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTU. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intuit from $600.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, May 21st. TD Cowen lowered their price target on Intuit from $576.00 to $504.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Wolfe Research reiterated an “outperform” rating and issued a $400.00 target price on shares of Intuit in a report on Thursday, May 21st. UBS Group dropped their price target on Intuit from $440.00 to $360.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. Finally, Northcoast Research decreased their price objective on Intuit from $575.00 to $465.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Twenty-two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $498.40.

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.