Norges Bank Invests $3.27 Billion in Intuit Inc. $INTU

Norges Bank acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,150,210 shares of the software maker’s stock, valued at approximately $3,268,830,000. Norges Bank owned about 1.49% of Intuit as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Intuit in the 1st quarter worth approximately $882,031,000. Nicholas Hoffman & Company LLC. bought a new position in Intuit during the first quarter worth $785,564,000. Price T Rowe Associates Inc. MD boosted its holdings in Intuit by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker’s stock worth $5,537,435,000 after purchasing an additional 649,212 shares during the period. Vanguard Group Inc. increased its stake in Intuit by 1.4% during the second quarter. Vanguard Group Inc. now owns 27,707,966 shares of the software maker’s stock valued at $21,823,625,000 after purchasing an additional 377,657 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Intuit by 6.8% during the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker’s stock worth $3,472,266,000 after purchasing an additional 358,328 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In other news, CFO Sandeep Aujla sold 1,170 shares of Intuit stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $677.06, for a total value of $792,160.20. Following the transaction, the chief financial officer owned 1,295 shares of the company’s stock, valued at $876,792.70. The trade was a 47.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard L. Dalzell sold 333 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $661.15, for a total transaction of $220,162.95. Following the sale, the director directly owned 14,475 shares of the company’s stock, valued at approximately $9,570,146.25. This represents a 2.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,836 shares of company stock valued at $1,235,203. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wolfe Research decreased their price target on shares of Intuit from $900.00 to $870.00 in a report on Friday, November 21st. Independent Research set a $875.00 target price on shares of Intuit in a report on Tuesday, November 18th. Morgan Stanley lowered their target price on Intuit from $900.00 to $880.00 and set an “overweight” rating for the company in a report on Friday, August 22nd. Daiwa Capital Markets increased their price target on Intuit from $770.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, KeyCorp dropped their target price on Intuit from $850.00 to $825.00 and set an “overweight” rating on the stock in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $798.20.

Intuit Stock Down 2.9%

Intuit stock opened at $629.13 on Friday. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70. The stock has a market cap of $175.15 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.53 and a beta of 1.25. The company’s 50-day moving average price is $664.68 and its two-hundred day moving average price is $706.67. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 20th. The software maker reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.25. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the firm posted $2.50 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. Intuit has set its Q2 2026 guidance at 3.630-3.680 EPS. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 9th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, January 9th. Intuit’s dividend payout ratio is presently 32.81%.

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.