Eastern Bank Cuts Stake in Intuit Inc. $INTU

Eastern Bank reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,118 shares of the software maker’s stock after selling 21 shares during the period. Eastern Bank’s holdings in Intuit were worth $881,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in INTU. KMG Fiduciary Partners LLC increased its position in shares of Intuit by 1.8% in the 2nd quarter. KMG Fiduciary Partners LLC now owns 771 shares of the software maker’s stock valued at $607,000 after purchasing an additional 14 shares during the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Intuit by 3.9% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 376 shares of the software maker’s stock valued at $296,000 after purchasing an additional 14 shares during the last quarter. Weaver Capital Management LLC increased its position in shares of Intuit by 1.3% in the 2nd quarter. Weaver Capital Management LLC now owns 1,127 shares of the software maker’s stock valued at $888,000 after purchasing an additional 14 shares during the last quarter. Peloton Wealth Strategists increased its position in shares of Intuit by 0.3% in the 1st quarter. Peloton Wealth Strategists now owns 4,414 shares of the software maker’s stock valued at $2,710,000 after purchasing an additional 15 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC increased its position in shares of Intuit by 0.9% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 1,672 shares of the software maker’s stock valued at $1,317,000 after purchasing an additional 15 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Down 0.5%

Shares of NASDAQ:INTU opened at $641.79 on Friday. The stock has a market cap of $178.93 billion, a P/E ratio of 46.71, a P/E/G ratio of 2.48 and a beta of 1.25. The firm has a fifty day moving average price of $686.93 and a 200 day moving average price of $693.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the business earned $1.99 EPS. The business’s revenue was up 20.3% on a year-over-year basis. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. Sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current 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. The ex-dividend date is Thursday, October 9th. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. Intuit’s dividend payout ratio (DPR) is 34.93%.

Wall Street Analyst Weigh In

A number of brokerages have commented on INTU. Oppenheimer increased their price objective on shares of Intuit from $742.00 to $868.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Morgan Stanley dropped their price objective on shares of Intuit from $900.00 to $880.00 and set an “overweight” rating on the stock in a research report on Friday, August 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $850.00 target price on shares of Intuit in a research report on Tuesday, September 2nd. CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an “outperform” rating and a $900.00 target price on the stock. Finally, Zacks Research downgraded shares of Intuit from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $791.82.

Insider Transactions at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $661.15, for a total value of $220,162.95. Following the completion of the sale, the director owned 14,475 shares in the company, valued at approximately $9,570,146.25. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 1,170 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $677.06, for a total transaction of $792,160.20. Following the completion of the sale, the chief financial officer owned 1,295 shares of the company’s stock, valued at $876,792.70. This trade represents a 47.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,407 shares of company stock worth $1,614,913. Company insiders own 2.68% of the company’s stock.

About Intuit

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.