Sumitomo Mitsui Trust Group Inc. Trims Position in Intuit Inc. $INTU

Sumitomo Mitsui Trust Group Inc. trimmed its position in Intuit Inc. (NASDAQ:INTU) by 8.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 671,247 shares of the software maker’s stock after selling 65,708 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Intuit were worth $290,234,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Intuit by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 28,918,438 shares of the software maker’s stock worth $19,156,152,000 after purchasing an additional 296,448 shares in the last quarter. State Street Corp grew its position in shares of Intuit by 1.4% during the 4th quarter. State Street Corp now owns 13,062,848 shares of the software maker’s stock valued at $8,653,092,000 after purchasing an additional 180,069 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Intuit by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 6,614,539 shares of the software maker’s stock valued at $4,369,488,000 after purchasing an additional 87,451 shares in the last quarter. Morgan Stanley increased its holdings in shares of Intuit by 1.2% in the fourth quarter. Morgan Stanley now owns 5,100,857 shares of the software maker’s stock worth $3,378,912,000 after purchasing an additional 60,910 shares during the period. Finally, Norges Bank bought a new position in shares of Intuit in the fourth quarter worth $3,058,407,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. HSBC dropped their price objective on Intuit from $897.00 to $707.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. TD Cowen lowered their price target on Intuit from $576.00 to $504.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft dropped their price target on Intuit from $600.00 to $530.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. The Goldman Sachs Group lowered Intuit from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $519.00 to $276.00 in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Intuit from $425.00 to $360.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Twenty-two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $498.40.

Trending Headlines about Intuit

Here are the key news stories impacting Intuit this week:

• Positive Sentiment: Some analysts still see significant upside in Intuit, with the stock maintaining a consensus Buy rating and a median 12-month target around $446.50. Stifel and Goldman Cut Intuit (INTU) Ratings
• Positive Sentiment: Several bullish commentary pieces argue INTU looks undervalued after its recent selloff and that AI fears may be overdone, suggesting the stock could be forming a bottom. Intuit: Signs Of A Bottom, Shares Way Too Cheap As The AI Trade Wobbles
• Positive Sentiment: Recent coverage says investors have rotated back into beaten-down software names, helping support a rebound in Intuit and peers. Atlassian and Intuit Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Intuit CFO Sandeep Aujla was highlighted in an interview, but the item did not include new financial guidance or material business updates. Intuit CFO Sandeep Aujla on the power of possibility
• Neutral Sentiment: Articles noted that QuickBooks Desktop retirement could benefit some bookkeeping firms, though this is more of an industry transition than a direct catalyst for Intuit shares. Remote Quality Bookkeeping Expands with New Massachusetts Office as Small Businesses Face QuickBooks Desktop Retirement
• Negative Sentiment: Stifel and Goldman cutting ratings likely added to near-term selling pressure and reinforced investor caution around Intuit’s valuation. Stifel and Goldman Cut Intuit (INTU) Ratings
• Negative Sentiment: Some analysis argues that growth in a key flagship product has cooled and that management is shifting the growth narrative, which raises concerns about the durability of future expansion. The Done-For-You Silence That Reshapes The Intuit Stock Growth Story
• Negative Sentiment: Another article highlighted TurboTax headwinds as already priced into the stock, underscoring ongoing concern about Intuit’s core tax franchise. Intuit: TurboTax Headwinds Are Priced Into This Deep Value Stock
• Negative Sentiment: A securities-fraud investigation announcement added further downside sentiment after the stock’s sharp decline and may keep investor confidence subdued in the near term. INTU Investment Loss: Intuit Investors that Lost Money after Pricing Issues Disclosed are Notified to Contact BFA Law about its Securities Fraud Investigation

Intuit Stock Down 3.2%

INTU opened at $272.10 on Thursday. The stock has a market cap of $74.43 billion, a PE ratio of 16.48, a P/E/G ratio of 1.03 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. Intuit Inc. has a 52 week low of $252.84 and a 52 week high of $813.70. The business’s fifty day simple moving average is $318.96 and its 200 day simple moving average is $423.93.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Wednesday, May 20th. The software maker reported $12.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $0.23. Intuit had a return on equity of 25.18% and a net margin of 21.91%.The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the company posted $11.65 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. Intuit has set its Q4 2026 guidance at 3.560-3.620 EPS and its FY 2026 guidance at 23.800-23.850 EPS. As a group, research analysts expect that Intuit Inc. will post 18.19 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, July 9th will be given a $1.20 dividend. The ex-dividend date is Thursday, July 9th. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Intuit’s payout ratio is presently 29.07%.

Insider Buying and Selling

In other Intuit news, Director Vasant M. Prabhu purchased 1,250 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $309.45 per share, with a total value of $386,812.50. Following the completion of the purchase, the director owned 1,250 shares of the company’s stock, valued at $386,812.50. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard L. Dalzell sold 338 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $279.86, for a total transaction of $94,592.68. Following the completion of the sale, the director owned 12,326 shares of the company’s stock, valued at approximately $3,449,554.36. The trade was a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,239 shares of company stock worth $348,354 over the last quarter. Company insiders own 2.49% of the company’s stock.

Intuit Company Profile

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.