Summary: Intuit is a leading business software company known for its popular financial software products like QuickBooks and TurboTax. This guide will explain how to buy Intuit stock with the help of a third-party online investing service such as eToro.
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About Intuit
About
Founded in 1983 and based in Palo Alto, California, Intuit is a leader in financial management solutions for individuals and small businesses worldwide. Therefore, its bookkeeping and accounting solutions help millions with financial streamlining and optimization.
Intuit’s user-friendly applications, simplified administration, and financial literacy improvement helped it position itself as a critical player in the U.S. and global financial software industry.
Since it went public in 1993, Intuit has traded under the ticker INTU on the Nasdaq stock market. The company has a market cap of $174.69 billion as of December 2023, and it is a component of both the Nasdaq-100 and S&P 500 indices.
How to buy Intuit stock: step-by-step
The general public can freely buy Intuit stock on the Nasdaq stock market under the ticker INTU. Investing in Intuit is easy using an online investing service. Simply perform the following five steps:
Step 1: Choose a broker
Before you purchase any INTU shares, you need to secure entry into the stock market. The convenient platform to achieve this is an online investing service.
To securely buy Intuit stock (INTU), we recommend you consider eToro:
- Commission-free stock and ETF trading;
- 2,000+ stocks from 17 exchanges;
- Fractional shares available;
- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
Step 2: Open and fund your account
After deciding on the platform, proceed to create and verify your account. The investing service should provide you with the instructions via email.
Once the verification goes through, you should transfer some funds to your account. You will use that money to buy Intuit stock using a bank transfer, debit or credit card, or a financial transaction service like PayPal.
Step 3: Decide how much you want to invest
Designating the correct sum of money to buy Intuit stuck might sound trivial, but it is, in fact, a crucial step in the process. Understanding your budget’s limitations helps you remain clear of financial adversities. To secure a solid and safe investment, make sure you have done the following:
- Paid off all high-interest debt, such as credit cards and personal loans;
- Created an emergency fund that covers at least three months of daily life expenses.
Remember
Step 4: Place your order and buy INTU stock
The next step is to place an order and buy INTU shares. Do the following:
- Step 1: Log into your brokerage platform and navigate to Intuit’s ticker symbol INTU;
- Step 2: Denote the sum or the number of Intuit shares you want to purchase;
- Step 3: Select the order type (market order or limit order) and place it;
- Step 4: Confirm the trade order.
Step 5: Monitor and manage your investment
Dealing with active investment assets like individual stocks requires regular monitoring and managing to succeed. In other words, the last step is a continuous one. It requires investors to observe the market tendencies and frequently update their knowledge of Intuit and the state of the broader financial software sector.
Keep in mind that having relevant data increases the success chance of your investment.
INTU stock price today
Pros and cons of buying Intuit stock (INTU)
Pros
- Stable revenue streams: Intuit’s apps, such as QuickBooks and TurboTax, have a robust market presence, especially in the United States, providing consistent revenue due to their necessity for small businesses and individuals;
- Established brand: Due to decades of established market presence, Intuit is a well-known and trusted brand in the financial software industry. This popularity and reliability contribute to customer loyalty and market dominance;
- Growth potential: Intuit regularly expands its offerings and services, including into the small business lending market, which can secure additional growth opportunities;
- Dividend stock: Intuit is a dividend-paying stock, redistributing a portion of its profits to shareholders each quarter. As of December 2023, its annual dividend yield is 0.58%.
Cons
- Competition: The financial software sector is fierce, with other players vying for market presence. Intuit could find it challenging to maintain its current market share;
- Tax regulation dependence: Adjustments in tax laws and regulations could seriously impact Intuit’s product performance, particularly its TurboTax app. Such changes could cause increased compliance costs and drive down profits;
- Dependence on the U.S. market: A significant portion of Intuit’s revenue comes from the U.S. (>95% in 2019), making it dependent and susceptible to economic fluctuations within the country.
- Lobbying and questionable advertising practices: Several parties reported Intuit’s lobbying to halt and disrupt a government-issued free online tax filing tool. Furthermore, there is an ongoing case against Intuit due to Turbo Fax’s false “free tax filing advertisement,” misleading customers. The result of these disputes could impact the company’s performance.
Common mistakes to avoid when investing in Intuit stock
Make sure to avoid these common investing mistakes:
- Lack of research: Research Intuit and its INTU stock in detail, along with the market state of the financial software industry, before investing;
- Lack of strategy: Set your goals before you spend any money;
- Staking everything on one asset: Always diversify your portfolio;
- Falling prey to scams: Avoid illegal platforms and suspicious deals.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy Intuit stock
Where is Intuit's stock listed?
Intuit trades under the INTU ticker on the NASDAQ stock market.
How do I buy Intuit stock?
Traders can buy Intuit stock by using an online investing service like eToro.
Should I invest in Intuit?
The answer depends on the current state of the financial software sector and your predictions about Intuit’s future performance. Make sure to conduct your own research before investing.
Does Intuit pay dividends?
Yes, Intuit has a long history of paying dividends, with a dividend yield of 0.58% as of December 2023.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
