Sumitomo Mitsui Trust Group Inc. Purchases 35,169 Shares of Intuit Inc. $INTU

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its ownership in Intuit Inc. by 4.6%, acquiring an additional 35,169 shares, which brings its total holdings to approximately $624.9 million.
• Multiple institutional investors have also raised their stakes in Intuit, leading to a total institutional ownership of 83.66% of the company's stock.
• Intuit recently increased its quarterly dividend from $1.04 to $1.20, representing an annualized yield of 0.7% and indicating strong financial performance with revenue up 20.3% year-over-year.

Sumitomo Mitsui Trust Group Inc. boosted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 793,399 shares of the software maker's stock after purchasing an additional 35,169 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of Intuit worth $624,905,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock worth $16,780,536,000 after purchasing an additional 294,993 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Intuit by 7.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker's stock worth $5,537,435,000 after purchasing an additional 649,212 shares in the last quarter. Wellington Management Group LLP raised its holdings in Intuit by 6.8% in the first quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker's stock worth $3,472,266,000 after purchasing an additional 358,328 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after acquiring an additional 252,265 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after acquiring an additional 36,513 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INTU shares. Stifel Nicolaus cut their target price on Intuit from $850.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Bank of America cut their target price on Intuit from $875.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, August 22nd. Oppenheimer increased their price objective on Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. CLSA initiated coverage on Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price objective on the stock. Finally, Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research report on Sunday, October 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average target price 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 dated Thursday, September 11th. The stock was sold at an average price of $661.15, for a total value of $220,162.95. Following the transaction, the director owned 14,475 shares of the company's stock, valued at $9,570,146.25. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott D. Cook sold 529 shares of Intuit stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $664.99, for a total value of $351,779.71. Following the sale, the director directly owned 6,162,547 shares in the company, valued at $4,098,032,129.53. This trade represents a 0.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,407 shares of company stock valued at $1,614,913 over the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Up 1.7%

NASDAQ INTU opened at $682.15 on Friday. The stock's 50-day moving average price is $672.45 and its 200-day moving average price is $697.02. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70. The company has a market capitalization of $190.19 billion, a P/E ratio of 49.68, a price-to-earnings-growth ratio of 2.59 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data 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 return on equity of 22.72% and a net margin of 20.55%.The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the company earned $1.99 earnings per share. The business's revenue for the quarter was up 20.3% compared to the same quarter last year. Intuit has set its Q1 2026 guidance at 3.050-3.120 EPS. FY 2026 guidance at 22.980-23.180 EPS. On average, equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Thursday, October 9th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 0.7%. This is an increase from Intuit's previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Thursday, October 9th. Intuit's dividend payout ratio is 34.93%.

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.

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