Intuit Inc. $INTU Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co reduced its stake in Intuit Inc. (NASDAQ:INTU) by 87.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 896 shares of the software maker’s stock after selling 6,000 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Intuit were worth $387,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC grew its holdings in Intuit by 7.3% during the 1st quarter. V Square Quantitative Management LLC now owns 8,721 shares of the software maker’s stock valued at $3,771,000 after purchasing an additional 590 shares in the last quarter. QRG Capital Management Inc. boosted its position in Intuit by 12.5% in the 1st quarter. QRG Capital Management Inc. now owns 58,255 shares of the software maker’s stock valued at $25,188,000 after buying an additional 6,495 shares during the last quarter. Lafayette Investments Inc. grew its stake in shares of Intuit by 239.0% during the first quarter. Lafayette Investments Inc. now owns 2,366 shares of the software maker’s stock valued at $1,023,000 after acquiring an additional 1,668 shares in the last quarter. Moran Wealth Management LLC increased its position in shares of Intuit by 4.2% during the first quarter. Moran Wealth Management LLC now owns 36,256 shares of the software maker’s stock worth $15,676,000 after acquiring an additional 1,463 shares during the last quarter. Finally, Canal Capital Management LLC lifted its stake in shares of Intuit by 24.6% in the first quarter. Canal Capital Management LLC now owns 12,745 shares of the software maker’s stock worth $5,511,000 after acquiring an additional 2,513 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on INTU. Barclays cut their target price on Intuit from $540.00 to $443.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Bank of America initiated coverage on shares of Intuit in a research note on Wednesday, May 27th. They issued a “buy” rating and a $400.00 price target for the company. Royal Bank Of Canada cut their price target on shares of Intuit from $600.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, May 21st. Jefferies Financial Group reduced their price objective on shares of Intuit from $650.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Finally, Weiss Ratings lowered shares of Intuit from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Twenty-two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $498.40.

Insiders Place Their Bets

In other news, Director Richard L. Dalzell sold 284 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $262.32, for a total value of $74,498.88. Following the transaction, the director directly owned 11,758 shares in the company, valued at approximately $3,084,358.56. This trade represents a 2.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vasant M. Prabhu purchased 500 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $309.71 per share, with a total value of $154,855.00. Following the completion of the acquisition, the director directly owned 1,750 shares in the company, valued at approximately $541,992.50. This trade represents a 40.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 1,239 shares of company stock worth $348,354 over the last three months. 2.49% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of INTU opened at $275.35 on Friday. The firm has a market cap of $75.32 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.01 and a beta of 1.00. The stock has a 50 day moving average of $325.83 and a 200-day moving average of $433.75. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.26. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $813.70.

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

Intuit Announces Dividend

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