Vanguard Trims Intuit Stake to 12.5% as of Dec 29, 2023

TL;DR

**Vanguard slightly cut its Intuit stake to 12.5%, watch for other institutional moves.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating a slight decrease in its beneficial ownership of Intuit Inc. (INTU) common stock. As of December 29, 2023, Vanguard now beneficially owns 34,760,049 shares, representing 12.5% of Intuit's outstanding common stock. This is a minor reduction from their previous reported stake, signaling a slight rebalancing by Vanguard, which could be interpreted as a neutral to slightly bearish signal for investors.

Why It Matters

This filing shows that a major institutional investor, Vanguard, has slightly reduced its position in Intuit, which could influence other investors' perceptions of the stock's future performance.

Risk Assessment

Risk Level: low — A minor adjustment by a large institutional investor like Vanguard typically poses low risk to individual shareholders unless it signals a broader trend.

Analyst Insight

A smart investor would monitor Intuit's upcoming earnings reports and look for any further institutional selling trends to determine if this minor reduction by Vanguard is an isolated event or part of a larger shift in sentiment.

Key Numbers

• 34,760,049 — Shares Beneficially Owned (Vanguard's total holding in Intuit Inc. common stock as of December 29, 2023.)
• 12.5% — Percentage of Class (Vanguard's ownership percentage of Intuit Inc. common stock, indicating a slight decrease from previous filings.)
• December 29, 2023 — Event Date (The specific date that triggered the requirement for this amendment filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Intuit Inc. (company) — issuer of the common stock
• 34,760,049 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 12.5% (dollar_amount) — percentage of Intuit's common stock beneficially owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Intuit's stock price may experience minor downward pressure or increased volatility in the short term. (Intuit Inc.) — low confidence, target: Q1 2024
• Other institutional investors might also re-evaluate their positions in Intuit. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• tv01217-intuitinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021223.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Intuit Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 2700 Coast Avenue Mountain View, CA 94043

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 461202103

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR