Mitsubishi UFJ Trust & Banking Corp Has $65.05 Million Stake in Intuit Inc. (INTU)
Mitsubishi UFJ Trust & Banking Corp increased its stake in Intuit Inc. (NASDAQ:INTU) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 489,757 shares of the software maker’s stock after buying an additional 1,537 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.19% of Intuit worth $65,045,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Intuit by 16.1% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,596 shares of the software maker’s stock valued at $7,649,000 after buying an additional 7,995 shares in the last quarter. Penserra Capital Management LLC raised its position in Intuit by 13.0% in the second quarter. Penserra Capital Management LLC now owns 1,768 shares of the software maker’s stock valued at $234,000 after buying an additional 204 shares in the last quarter. GHP Investment Advisors Inc. raised its position in Intuit by 2.1% in the second quarter. GHP Investment Advisors Inc. now owns 25,075 shares of the software maker’s stock valued at $3,330,000 after buying an additional 524 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Intuit during the second quarter valued at approximately $428,000. Finally, B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in Intuit during the second quarter valued at approximately $730,000. Institutional investors and hedge funds own 85.63% of the company’s stock.
Shares of Intuit Inc. (NASDAQ INTU) opened at 137.35 on Monday. The firm’s 50-day moving average is $135.60 and its 200-day moving average is $129.04. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81. The stock has a market capitalization of $35.30 billion, a price-to-earnings ratio of 36.92 and a beta of 1.15.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $842 million during the quarter, compared to the consensus estimate of $808.82 million. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. On average, equities research analysts anticipate that Intuit Inc. will post $4.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.34. Intuit’s dividend payout ratio is 36.56%.
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Several research firms have recently commented on INTU. Jefferies Group LLC began coverage on Intuit in a report on Thursday. They set a “buy” rating and a $157.00 price target on the stock. Oppenheimer Holdings, Inc. lifted their price target on Intuit from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank Of Canada restated a “hold” rating and issued a $141.00 price objective on shares of Intuit in a report on Thursday. Bank of America Corporation restated a “buy” rating and issued a $145.00 price objective on shares of Intuit in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $150.00 price objective on shares of Intuit in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $137.76.
In other news, Chairman Scott D. Cook sold 183,334 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $135.22, for a total transaction of $24,790,423.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the company’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total value of $2,203,602.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 595,109 shares of company stock valued at $81,061,248. 5.70% of the stock is currently owned by corporate insiders.
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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