UMB Bank n.a. Sells 20,846 Shares of Intuit Inc. (NASDAQ:INTU)

UMB Bank n.a. lowered its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,677 shares of the software maker's stock after selling 20,846 shares during the period. UMB Bank n.a.'s holdings in Intuit were worth $27,451,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Harvest Portfolios Group Inc. grew its stake in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock worth $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC raised its holdings in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker's stock valued at $2,383,000 after acquiring an additional 968 shares in the last quarter. Retireful LLC purchased a new stake in shares of Intuit during the 3rd quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intuit during the 3rd quarter worth about $56,144,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company's stock, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last quarter. Insiders own 2.68% of the company's stock.

Intuit Stock Down 0.5 %

Shares of INTU traded down $3.14 during midday trading on Monday, reaching $604.13. 2,830,783 shares of the stock were exchanged, compared to its average volume of 1,248,995. The company has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. 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 Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The firm has a 50 day simple moving average of $646.09 and a 200-day simple moving average of $636.77.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. Research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit's dividend payout ratio (DPR) is currently 40.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. Piper Sandler reaffirmed an "overweight" rating and set a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Finally, StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $726.53.

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.