Transamerica Financial Advisors Inc. Has $5.02 Million Stake in Intuit Inc. (NASDAQ:INTU)

Transamerica Financial Advisors Inc. reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in INTU. Harvest Portfolios Group Inc. lifted its position in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the period. GAMMA Investing LLC raised its holdings 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 purchasing an additional 968 shares during the period. Retireful LLC bought a new position in shares of Intuit during the 3rd quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuit in the 3rd quarter valued at about $56,144,000. Finally, Cetera Advisors LLC increased its position in Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after buying an additional 2,655 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on INTU shares. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Finally, Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They issued 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

NASDAQ:INTU traded down $0.49 during trading hours on Tuesday, reaching $634.13. The stock had a trading volume of 179,831 shares, compared to its average volume of 1,359,076. The stock has a market cap of $177.63 billion, a P/E ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The stock has a 50 day simple moving average of $634.58 and a 200 day simple moving average of $631.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. On average, research analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 18.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock valued at $35,200,125 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

About Intuit

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.