Great Lakes Advisors LLC Sells 933 Shares of Intuit Inc. (NASDAQ:INTU)

Great Lakes Advisors LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 34.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,789 shares of the software maker’s stock after selling 933 shares during the period. Great Lakes Advisors LLC’s holdings in Intuit were worth $1,124,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Brown Financial Advisors boosted its position in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after buying an additional 15 shares during the period. Truvestments Capital LLC boosted its position in Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the period. True North Advisors LLC boosted its position in Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC boosted its position in Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock valued at $394,000 after buying an additional 17 shares during the period. Finally, Kovack Advisors Inc. boosted its position in Intuit by 4.8% during the third quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after buying an additional 18 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a report on Wednesday, February 26th. Stifel Nicolaus dropped their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Price Performance

Shares of NASDAQ INTU opened at $598.80 on Friday. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The company has a 50 day simple moving average of $598.23 and a two-hundred day simple moving average of $623.61. The company has a market capitalization of $167.40 billion, a price-to-earnings ratio of 58.14, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Insider Buying and Selling at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,301 shares of company stock valued at $121,470,200. Corporate insiders own 2.68% of the company’s stock.

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.