Mitsubishi UFJ Trust & Banking Corp Has $100.98 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Intuit Inc. by 2.2% in Q1, now holding 164,469 shares valued at approximately $100.98 million after selling 3,650 shares.
• Intuit reported Q1 earnings per share of $11.65, exceeding estimates, with revenue up 15.1% year-over-year at $7.75 billion, driven by strong demand for its financial management products.
• The company recently declared a quarterly dividend of $1.04 per share, resulting in an annualized payout of $4.16 and a dividend yield of 0.5%.

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,469 shares of the software maker's stock after selling 3,650 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Intuit worth $100,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of INTU. UNIVEST FINANCIAL Corp lifted its stake in Intuit by 14.1% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 3,296 shares of the software maker's stock worth $2,023,000 after acquiring an additional 407 shares in the last quarter. Commerce Bank lifted its stake in Intuit by 3.4% in the 1st quarter. Commerce Bank now owns 25,479 shares of the software maker's stock worth $15,644,000 after acquiring an additional 835 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Intuit by 15.6% in the 1st quarter. Moors & Cabot Inc. now owns 836 shares of the software maker's stock worth $514,000 after acquiring an additional 113 shares in the last quarter. Nicolet Advisory Services LLC lifted its stake in Intuit by 8.2% in the 1st quarter. Nicolet Advisory Services LLC now owns 945 shares of the software maker's stock worth $546,000 after acquiring an additional 72 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its stake in Intuit by 94.9% in the 1st quarter. HHM Wealth Advisors LLC now owns 115 shares of the software maker's stock worth $71,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $8.98 during trading hours on Friday, hitting $776.15. 1,490,057 shares of the company's stock were exchanged, compared to its average volume of 1,456,620. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $216.51 billion, a price-to-earnings ratio of 63.00, a PEG ratio of 2.99 and a beta of 1.28. The company's 50-day moving average price is $767.11 and its 200-day moving average price is $662.40.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.88 earnings per share. On average, sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.5%. Intuit's dividend payout ratio is currently 33.77%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the sale, the executive vice president directly owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the sale, the chief financial officer owned 197 shares in the company, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 in the last three months. Company insiders own 2.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on INTU shares. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. UBS Group set a $750.00 target price on Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. KeyCorp restated an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley boosted their target price on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Evercore ISI boosted their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average price target of $806.27.

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.