Mitsubishi UFJ Trust & Banking Corp Sells 29,721 Shares of Intuit Inc. (NASDAQ:INTU)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Intuit Inc. (NASDAQ:INTU) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 owned 0.06% of Intuit worth $105,663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Proficio Capital Partners LLC grew its stake in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Intuit in the 4th quarter worth $300,854,000. Vanguard Group Inc. grew its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after buying an additional 353,185 shares in the last quarter. Holocene Advisors LP increased its stake in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $613.09 on Tuesday. 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 stock has a 50-day moving average of $596.08 and a two-hundred day moving average of $622.74. The stock has a market cap of $171.40 billion, a P/E ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 (DPR) is 38.81%.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 363 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $11,941.50. The trade was a 95.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 124,733 shares of company stock worth $77,947,205 over the last quarter. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. BMO Capital Markets dropped their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Mizuho upped their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

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.