Transamerica Financial Advisors Inc. Cuts Position in Intuit Inc. (NASDAQ:INTU)

Transamerica Financial Advisors Inc. trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,869 shares of the software maker’s stock after selling 214 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Intuit were worth $4,946,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC grew its position in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares during the period. Heck Capital Advisors LLC purchased a new stake in Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit in the fourth quarter valued at about $29,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho raised their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,896 shares of company stock valued at $82,946,716 over the last three months. 2.68% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $598.92 on Friday. The stock’s 50-day simple moving average is $595.90 and its two-hundred day simple moving average is $622.46. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. The firm has a market capitalization of $167.44 billion, a P/E ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

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.