MML Investors Services LLC Sells 2,057 Shares of Intuit Inc. (NASDAQ:INTU)

MML Investors Services LLC cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,659 shares of the software maker's stock after selling 2,057 shares during the quarter. MML Investors Services LLC's holdings in Intuit were worth $19,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Intuit during the 3rd quarter valued at about $62,000. Dunhill Financial LLC boosted its holdings in shares of Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker's stock valued at $38,000 after acquiring an additional 32 shares during the last quarter. Zacks Investment Management increased its stake in shares of Intuit by 12.3% in the third quarter. Zacks Investment Management now owns 71,830 shares of the software maker's stock worth $44,607,000 after acquiring an additional 7,859 shares during the period. Zurich Insurance Group Ltd FI lifted its position in Intuit by 11.5% during the third quarter. Zurich Insurance Group Ltd FI now owns 129,031 shares of the software maker's stock valued at $80,128,000 after purchasing an additional 13,264 shares during the period. Finally, National Bank of Canada FI grew its position in Intuit by 58.5% during the 3rd quarter. National Bank of Canada FI now owns 281,258 shares of the software maker's stock worth $174,661,000 after purchasing an additional 103,836 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Up 0.1 %

INTU traded up $0.49 during mid-day trading on Tuesday, reaching $647.07. 1,485,528 shares of the stock were exchanged, compared to its average volume of 1,363,533. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $181.13 billion, a PE ratio of 62.82, a price-to-earnings-growth ratio of 3.19 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a 50 day moving average price of $635.59 and a two-hundred day moving average price of $630.43.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. Intuit's revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders 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 annualized dividend and a yield of 0.64%. Intuit's dividend payout ratio is currently 40.39%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of analyst reports. Susquehanna reaffirmed a "positive" rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Morgan Stanley lifted their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a report on Friday, November 22nd. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. BMO Capital Markets increased their price objective on Intuit from $700.00 to $760.00 and gave the company an "outperform" rating in a report on Friday, August 23rd. Finally, Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a "sector perform" rating and a $700.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $737.44.

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 2,461 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company's stock, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,032 shares of company stock valued at $76,314,242 in the last quarter. 2.68% of the stock is currently owned by corporate 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.