Great Lakes Retirement Inc. Reduces Stock Position in Intuit Inc. (NASDAQ:INTU)

Great Lakes Retirement Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 977 shares of the software maker’s stock after selling 69 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Intuit were worth $614,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Intuit during the third quarter worth about $27,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $576.54 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $161.39 billion, a P/E ratio of 55.97, a PEG ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a 50-day moving average price of $624.25 and a 200 day moving average price of $631.05.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. Research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.72%. Intuit’s payout ratio is 40.39%.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the sale, the chief executive officer now owns 37,869 shares of the company’s stock, valued at approximately $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

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.