Intuit Inc. (NASDAQ:INTU) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its position in Intuit Inc. (NASDAQ:INTU) by 16.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,156 shares of the software maker’s stock after selling 4,216 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Intuit were worth $5,627,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. West Oak Capital LLC acquired a new position in Intuit in the 3rd quarter valued at about $27,000. Manchester Financial Inc. acquired a new position in Intuit in the 2nd quarter valued at about $30,000. FNY Investment Advisers LLC acquired a new position in Intuit in the 2nd quarter valued at about $30,000. Cerebellum GP LLC acquired a new position in Intuit in the 3rd quarter valued at about $32,000. Finally, NewSquare Capital LLC acquired a new position in Intuit in the 2nd quarter valued at about $42,000. Institutional investors own 87.20% of the company’s stock.

In related news, SVP Kerry J. Mclean sold 20,543 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $277.05, for a total transaction of $5,691,438.15. Following the sale, the senior vice president now directly owns 25,170 shares of the company’s stock, valued at approximately $6,973,348.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark J. Flournoy sold 6,854 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $286.33, for a total transaction of $1,962,505.82. Following the sale, the chief accounting officer now directly owns 4,541 shares in the company, valued at $1,300,224.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 285,279 shares of company stock worth $68,553,645. 4.60% of the stock is owned by insiders.

Several brokerages have recently commented on INTU. Credit Suisse Group upped their price objective on shares of Intuit from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley upped their price objective on shares of Intuit from $244.00 to $260.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Jefferies Financial Group set a $320.00 price objective on shares of Intuit and gave the stock a “buy” rating in a report on Friday, August 23rd. UBS Group lowered shares of Intuit to a “sell” rating in a report on Friday, October 25th. Finally, Bank of America upped their price objective on shares of Intuit from $264.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Six analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $278.21.

Shares of INTU stock opened at $256.85 on Friday. Intuit Inc. has a one year low of $182.61 and a one year high of $295.77. The firm’s 50 day moving average price is $262.77 and its 200-day moving average price is $264.79. The firm has a market cap of $65.84 billion, a P/E ratio of 46.03, a P/E/G ratio of 2.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.83 and a current ratio of 1.83.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.37. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The firm had revenue of $994.00 million for the quarter, compared to the consensus estimate of $964.02 million. During the same period in the prior year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, research analysts predict that Intuit Inc. will post 6.3 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a dividend of $0.53 per share. This is an increase from Intuit’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 0.83%. The ex-dividend date was Wednesday, October 9th. Intuit’s dividend payout ratio is presently 37.99%.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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