Transamerica Financial Advisors Inc. Sells 572 Shares of Intuit Inc. (NASDAQ:INTU)

Transamerica Financial Advisors Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 6.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,083 shares of the software maker’s stock after selling 572 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Intuit were worth $5,020,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Harvest Portfolios Group Inc. boosted its position in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares during the period. GAMMA Investing LLC raised its stake in shares of Intuit by 33.7% during 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 during the last quarter. Retireful LLC purchased a new position in Intuit during the 3rd quarter valued at about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Intuit during the 3rd quarter valued at approximately $56,144,000. Finally, Cetera Advisors LLC grew its position in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after buying an additional 2,655 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTU shares. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday. Finally, Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Down 0.1 %

NASDAQ:INTU traded down $0.49 on Tuesday, reaching $634.13. 179,831 shares of the stock traded hands, compared to its average volume of 1,359,076. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $177.63 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company’s fifty day simple moving average is $634.58 and its 200 day simple moving average is $631.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. Equities analysts predict that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is currently 40.39%.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is owned by corporate insiders.

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.