Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 10.7% during the second quarter, Holdings Channel reports. The fund owned 34,953 shares of the software maker’s stock after selling 4,183 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Intuit were worth $4,642,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Guardian Life Insurance Co. of America boosted its stake in shares of Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after buying an additional 5 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Intuit during the second quarter valued at $123,000. Johnson Financial Group Inc. boosted its stake in shares of Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock valued at $126,000 after buying an additional 59 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in shares of Intuit during the first quarter valued at $205,000. Finally, Lincoln National Corp purchased a new stake in shares of Intuit during the first quarter valued at $205,000. 85.57% of the stock is owned by institutional investors and hedge funds.

Intuit Inc. (INTU) opened at 136.60 on Friday. The company has a 50 day moving average of $135.04 and a 200 day moving average of $127.75. The company has a market capitalization of $35.00 billion, a price-to-earnings ratio of 39.25 and a beta of 1.15. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81.

Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.03. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.43 earnings per share. On average, equities analysts forecast that Intuit Inc. will post $4.39 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, July 6th. Intuit’s dividend payout ratio (DPR) is presently 39.19%.

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Several equities research analysts have weighed in on INTU shares. Benchmark Co. started coverage on shares of Intuit in a research report on Thursday, April 27th. They set a “buy” rating and a $140.00 price target for the company. Citigroup Inc. increased their price target on shares of Intuit from $128.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Bank of America Corporation increased their price target on shares of Intuit from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Deutsche Bank AG increased their price target on shares of Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, Zacks Investment Research raised shares of Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Monday, May 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. Intuit currently has an average rating of “Buy” and a consensus price target of $135.63.

In related news, EVP Henry Tayloe Stansbury sold 3,742 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $137.92, for a total value of $516,096.64. Following the completion of the sale, the executive vice president now directly owns 4,580 shares of the company’s stock, valued at $631,673.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 74,052 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $139.46, for a total transaction of $10,327,291.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,265 shares of company stock valued at $21,085,104. 5.70% of the stock is owned by insiders.

Intuit Company Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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