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

Great Lakes Retirement Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,642 shares of the software maker’s stock after selling 64 shares during the period. Great Lakes Retirement Inc.’s holdings in Intuit were worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Elk River Wealth Management LLC boosted its stake in Intuit by 0.3% during the fourth 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 raised its stake in Intuit by 14.9% during the fourth quarter. WASHINGTON TRUST Co now owns 154 shares of the software maker’s stock valued at $96,000 after buying an additional 20 shares during the last quarter. Procyon Advisors LLC boosted its holdings in Intuit by 40.3% in the fourth quarter. Procyon Advisors LLC now owns 3,170 shares of the software maker’s stock worth $1,981,000 after acquiring an additional 910 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of Intuit in the fourth quarter worth $420,000. Finally, Family Legacy Inc. increased its holdings in shares of Intuit by 1.1% during the fourth quarter. Family Legacy Inc. now owns 2,071 shares of the software maker’s stock valued at $1,294,000 after acquiring an additional 23 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Oppenheimer upped their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Stifel Nicolaus boosted their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Morgan Stanley increased their target price on Intuit from $525.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, November 29th. Susquehanna boosted their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Intuit Price Performance

Intuit stock traded up $2.31 during mid-day trading on Thursday, reaching $651.05. 487,395 shares of the company’s stock traded hands, compared to its average volume of 1,232,423. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a market cap of $182.29 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 3.90 and a beta of 1.22. The stock has a 50 day moving average of $645.76 and a two-hundred day moving average of $586.88. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion during 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 was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.05 earnings per share. Equities analysts forecast that Intuit Inc. will post 11.27 earnings per share 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 given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,260 shares of company stock worth $20,667,475. 2.90% of the stock is currently owned by insiders.

Intuit Company 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.