Sumitomo Mitsui Trust Group Inc. Sells 1,545 Shares of Intuit Inc. (NASDAQ:INTU)

Sumitomo Mitsui Trust Group Inc. cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 758,230 shares of the software maker's stock after selling 1,545 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Intuit worth $465,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Copia Wealth Management acquired a new stake in Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the 4th quarter worth approximately $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in Intuit during the fourth quarter valued at approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark P. Notarainni sold 469 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at $13,775. This represents a 96.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 272,896 shares of company stock worth $204,351,942. Company insiders own 2.68% of the company's stock.

Intuit Stock Performance

Intuit stock traded up $3.71 on Friday, hitting $776.57. The company's stock had a trading volume of 2,051,675 shares, compared to its average volume of 1,613,471. The firm has a market cap of $216.62 billion, a P/E ratio of 54.73, a price-to-earnings-growth ratio of 3.45 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $700.54 and a 200-day moving average price of $638.38. Intuit Inc. has a one year low of $532.65 and a one year high of $787.22.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for 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 business's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.88 EPS. On average, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio is currently 33.77%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America lifted their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price target (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Stifel Nicolaus lifted their price target on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $793.05.

Intuit 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.