Sumitomo Mitsui Trust Group Inc. Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 759,775 shares of the software maker’s stock after selling 35,589 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Intuit were worth $477,519,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brookstone Capital Management boosted its position in Intuit by 1.8% in the third quarter. Brookstone Capital Management now owns 2,020 shares of the software maker’s stock worth $1,254,000 after purchasing an additional 35 shares during the last quarter. CWM LLC boosted its holdings in shares of Intuit by 1.4% in the 3rd quarter. CWM LLC now owns 16,910 shares of the software maker’s stock worth $10,501,000 after buying an additional 227 shares during the last quarter. Abner Herrman & Brock LLC boosted its holdings in shares of Intuit by 0.4% in the 3rd quarter. Abner Herrman & Brock LLC now owns 29,242 shares of the software maker’s stock worth $18,159,000 after buying an additional 112 shares during the last quarter. Wedmont Private Capital grew its position in Intuit by 1.4% during the third quarter. Wedmont Private Capital now owns 3,729 shares of the software maker’s stock valued at $2,246,000 after buying an additional 51 shares during the period. Finally, Quotient Wealth Partners LLC increased its holdings in Intuit by 1.4% during the third quarter. Quotient Wealth Partners LLC now owns 2,529 shares of the software maker’s stock worth $1,571,000 after buying an additional 36 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $590.20 on Friday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $165.21 billion, a P/E ratio of 57.30, a PEG ratio of 2.96 and a beta of 1.25. The business’s 50-day moving average price is $628.37 and its two-hundred day moving average price is $632.37.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. As a group, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. Intuit’s dividend payout ratio is presently 40.39%.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Morgan Stanley raised their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lifted their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 7,700 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the transaction, the executive vice president now directly owns 33,916 shares in the company, valued at $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

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.