Sumitomo Mitsui Trust Group Inc. Sells 65,708 Shares of Intuit Inc. $INTU

Key Points

• Sumitomo Mitsui Trust Group Inc. cut its Intuit stake by 8.9% in Q1, selling 65,708 shares and leaving it with 671,247 shares worth about $290.2 million.
• Intuit shares were down 3.2% to $272.10, well below their 52-week high, as the stock has also been pressured by recent analyst target cuts and broader caution around valuation.
• The company recently beat quarterly earnings expectations, reporting $12.80 EPS on $8.56 billion in revenue, and it also announced a quarterly dividend of $1.20 per share.

Sumitomo Mitsui Trust Group Inc. decreased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 671,247 shares of the software maker's stock after selling 65,708 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Intuit worth $290,234,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Joseph Group Capital Management bought a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. HHM Wealth Advisors LLC lifted its holdings in Intuit by 75.0% during the first quarter. HHM Wealth Advisors LLC now owns 70 shares of the software maker's stock worth $30,000 after acquiring an additional 30 shares during the period. CrossGen Wealth LLC purchased a new position in Intuit in the first quarter worth $32,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in Intuit in the third quarter worth $33,000. Institutional investors own 83.66% of the company's stock.

Intuit Stock Down 3.2%

Shares of NASDAQ INTU opened at $272.10 on Thursday. Intuit Inc. has a one year low of $252.84 and a one year high of $813.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.45. The business's fifty day moving average price is $318.96 and its 200-day moving average price is $423.93. The stock has a market capitalization of $74.43 billion, a PE ratio of 16.48, a P/E/G ratio of 1.03 and a beta of 1.00.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the prior year, the company earned $11.65 EPS. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 18.19 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, July 9th will be paid a $1.20 dividend. The ex-dividend date is Thursday, July 9th. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Intuit's dividend payout ratio (DPR) is presently 29.07%.

Insider Activity

In other Intuit news, Director Vasant M. Prabhu acquired 1,250 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $309.45 per share, with a total value of $386,812.50. Following the acquisition, the director owned 1,250 shares in the company, valued at approximately $386,812.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard L. Dalzell sold 338 shares of Intuit stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the transaction, the director owned 12,326 shares of the company's stock, valued at $3,449,554.36. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,239 shares of company stock valued at $348,354 in the last quarter. Corporate insiders own 2.49% of the company's stock.

Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. Citigroup decreased their target price on Intuit from $649.00 to $591.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Susquehanna cut their price target on shares of Intuit from $640.00 to $550.00 and set a "positive" rating on the stock in a report on Friday, May 22nd. Erste Group Bank upgraded shares of Intuit to a "hold" rating in a research report on Monday, April 27th. BMO Capital Markets decreased their price objective on shares of Intuit from $550.00 to $412.00 and set an "outperform" rating for the company in a report on Thursday, May 21st. Finally, Guggenheim set a $633.00 price objective on shares of Intuit in a research report on Monday, March 16th. Twenty-two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $498.40.

Key Stories Impacting Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Some analysts still see significant upside in Intuit, with the stock maintaining a consensus Buy rating and a median 12-month target around $446.50. Stifel and Goldman Cut Intuit (INTU) Ratings
• Positive Sentiment: Several bullish commentary pieces argue INTU looks undervalued after its recent selloff and that AI fears may be overdone, suggesting the stock could be forming a bottom. Intuit: Signs Of A Bottom, Shares Way Too Cheap As The AI Trade Wobbles
• Positive Sentiment: Recent coverage says investors have rotated back into beaten-down software names, helping support a rebound in Intuit and peers. Atlassian and Intuit Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Intuit CFO Sandeep Aujla was highlighted in an interview, but the item did not include new financial guidance or material business updates. Intuit CFO Sandeep Aujla on the power of possibility
• Neutral Sentiment: Articles noted that QuickBooks Desktop retirement could benefit some bookkeeping firms, though this is more of an industry transition than a direct catalyst for Intuit shares. Remote Quality Bookkeeping Expands with New Massachusetts Office as Small Businesses Face QuickBooks Desktop Retirement
• Negative Sentiment: Stifel and Goldman cutting ratings likely added to near-term selling pressure and reinforced investor caution around Intuit’s valuation. Stifel and Goldman Cut Intuit (INTU) Ratings
• Negative Sentiment: Some analysis argues that growth in a key flagship product has cooled and that management is shifting the growth narrative, which raises concerns about the durability of future expansion. The Done-For-You Silence That Reshapes The Intuit Stock Growth Story
• Negative Sentiment: Another article highlighted TurboTax headwinds as already priced into the stock, underscoring ongoing concern about Intuit’s core tax franchise. Intuit: TurboTax Headwinds Are Priced Into This Deep Value Stock
• Negative Sentiment: A securities-fraud investigation announcement added further downside sentiment after the stock’s sharp decline and may keep investor confidence subdued in the near term. INTU Investment Loss: Intuit Investors that Lost Money after Pricing Issues Disclosed are Notified to Contact BFA Law about its Securities Fraud Investigation

Intuit Company Profile

Intuit Inc NASDAQ: INTU is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit's product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.