Mitsubishi UFJ Trust & Banking Corp Lowers Stake in Intuit Inc. (NASDAQ:INTU)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 15.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 168,119 shares of the software maker’s stock after selling 29,721 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Intuit were worth $105,663,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. Eagle Asset Management Inc. lifted its position in shares of Intuit by 20.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock valued at $3,181,000 after buying an additional 799 shares in the last quarter. Kingsview Wealth Management LLC raised its position in Intuit by 28.9% during the third quarter. Kingsview Wealth Management LLC now owns 1,576 shares of the software maker’s stock worth $978,000 after acquiring an additional 353 shares during the period. Penserra Capital Management LLC lifted its holdings in Intuit by 1.2% during the third quarter. Penserra Capital Management LLC now owns 2,890 shares of the software maker’s stock valued at $1,793,000 after purchasing an additional 34 shares in the last quarter. Swedbank AB grew its position in shares of Intuit by 3.5% in the third quarter. Swedbank AB now owns 118,266 shares of the software maker’s stock valued at $73,443,000 after purchasing an additional 4,035 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Intuit by 38.2% during the third quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock worth $186,000 after purchasing an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 124,733 shares of company stock valued at $77,947,205. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTU. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Trading Up 1.5 %

Shares of Intuit stock opened at $613.09 on Tuesday. The stock has a 50 day moving average of $596.08 and a 200 day moving average of $622.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $171.40 billion, a price-to-earnings ratio of 59.52, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

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.