Great Lakes Retirement Inc. Sells 64 Shares of Intuit Inc. (NASDAQ:INTU)

Great Lakes Retirement Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,642 shares of the software maker’s stock after selling 64 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Intuit were worth $1,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Elk River Wealth Management LLC boosted its position in shares of Intuit by 0.3% during the 4th quarter. Elk River Wealth Management LLC now owns 15,309 shares of the software maker’s stock worth $9,569,000 after acquiring an additional 47 shares in the last quarter. WASHINGTON TRUST Co lifted its stake in Intuit by 14.9% during the fourth quarter. WASHINGTON TRUST Co now owns 154 shares of the software maker’s stock worth $96,000 after purchasing an additional 20 shares during the last quarter. Procyon Advisors LLC boosted its holdings in shares of Intuit by 40.3% in the 4th quarter. Procyon Advisors LLC now owns 3,170 shares of the software maker’s stock valued at $1,981,000 after purchasing an additional 910 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of Intuit in the 4th quarter valued at $420,000. Finally, Family Legacy Inc. raised its holdings in shares of Intuit by 1.1% during the 4th quarter. Family Legacy Inc. now owns 2,071 shares of the software maker’s stock worth $1,294,000 after buying an additional 23 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research note on Tuesday. Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Stifel Nicolaus upped their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. KeyCorp raised their target price on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Intuit Trading Up 0.4 %

NASDAQ INTU traded up $2.31 during mid-day trading on Thursday, reaching $651.05. 487,395 shares of the stock were exchanged, compared to its average volume of 1,232,423. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $182.29 billion, a P/E ratio of 66.20, a P/E/G ratio of 3.90 and a beta of 1.22. The stock has a 50 day simple moving average of $645.76 and a 200-day simple moving average of $586.88. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 EPS. On average, analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a $0.90 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.55%. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insiders Place Their Bets

In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Laura A. Fennell sold 14,771 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $589.60, for a total transaction of $8,708,981.60. Following the completion of the sale, the executive vice president now owns 50,030 shares in the company, valued at approximately $29,497,688. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 34,260 shares of company stock valued at $20,667,475 in the last 90 days. 2.90% of the stock is currently 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.