Intuit Inc. (NASDAQ:INTU) Shares Purchased by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,050 shares of the software maker’s stock after acquiring an additional 2,283 shares during the period. Sumitomo Mitsui Financial Group Inc.’s holdings in Intuit were worth $21,400,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Trek Financial LLC raised its position in shares of Intuit by 64.7% during the 4th quarter. Trek Financial LLC now owns 1,342 shares of the software maker’s stock worth $843,000 after purchasing an additional 527 shares during the last quarter. Polymer Capital Management HK LTD boosted its position in shares of Intuit by 10.0% in the fourth quarter. Polymer Capital Management HK LTD now owns 550 shares of the software maker’s stock worth $346,000 after acquiring an additional 50 shares during the last quarter. 2Xideas AG raised its position in shares of Intuit by 1.9% in the 4th quarter. 2Xideas AG now owns 11,910 shares of the software maker’s stock worth $7,485,000 after buying an additional 222 shares during the period. Unigestion Holding SA lifted its stake in shares of Intuit by 32.8% in the 4th quarter. Unigestion Holding SA now owns 2,431 shares of the software maker’s stock valued at $1,528,000 after purchasing an additional 601 shares in the last quarter. Finally, Waterloo Capital L.P. lifted its holdings in shares of Intuit by 6.9% during the 4th quarter. Waterloo Capital L.P. now owns 842 shares of the software maker’s stock valued at $529,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,862 shares of company stock worth $18,767,673. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $561.53 on Monday. Intuit Inc. has a 52 week low of $533.55 and a 52 week high of $714.78. The stock has a market cap of $156.98 billion, a P/E ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.25. The company’s 50 day moving average price is $595.64 and its two-hundred day moving average price is $620.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analyst Ratings Changes

Several research firms have issued reports on INTU. Piper Sandler restated an “overweight” rating and set a $785.00 price objective (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Jefferies Financial Group cut their target price on Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.00.

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.