UMB Bank n.a. Has $24.29 Million Holdings in Intuit Inc. (NASDAQ:INTU)

UMB Bank n.a. lowered its position in Intuit Inc. (NASDAQ:INTU) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,557 shares of the software maker’s stock after selling 4,120 shares during the period. UMB Bank n.a.’s holdings in Intuit were worth $24,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in Intuit in the 4th quarter valued at $2,290,419,000. GAMMA Investing LLC raised its holdings in shares of Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after buying an additional 2,821,534 shares during the last quarter. Proficio Capital Partners LLC lifted its position in Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 0.6%

NASDAQ:INTU opened at $771.58 on Friday. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $215.23 billion, a PE ratio of 74.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The business’s 50-day simple moving average is $646.24 and its 200-day simple moving average is $626.21.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $9.88 EPS. Sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Insider Activity

In other news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the sale, the executive vice president now directly owns 40,767 shares in the company, valued at $31,017,164.28. This trade represents a 45.71% 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, EVP Alex G. Balazs sold 1,459 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Insiders have sold a total of 225,592 shares of company stock worth $165,325,437 over the last three months. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTU. Piper Sandler reiterated an “overweight” rating and set a $825.00 target price (up from $785.00) on shares of Intuit in a research report on Friday, May 23rd. BMO Capital Markets restated an “outperform” rating and issued a $820.00 price objective (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a report on Wednesday, April 23rd. Bank of America lifted their target price on Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Barclays reaffirmed an “overweight” rating and set a $815.00 price target (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $785.33.

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.