Lyell Wealth Management LP Has $18.54 Million Stake in Intuit Inc. (NASDAQ:INTU)

Lyell Wealth Management LP decreased its position in Intuit Inc. (NASDAQ:INTU) by 4.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 29,661 shares of the software maker’s stock after selling 1,229 shares during the period. Intuit comprises 2.1% of Lyell Wealth Management LP’s portfolio, making the stock its 8th biggest position. Lyell Wealth Management LP’s holdings in Intuit were worth $18,539,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INTU. Desjardins Global Asset Management Inc. boosted its holdings in Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the last quarter. GAM Holding AG lifted its position in Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after buying an additional 17 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares during the last quarter. Clear Harbor Asset Management LLC grew its holdings in shares of Intuit by 0.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after acquiring an additional 18 shares in the last quarter. Finally, Glenview Trust co increased its position in shares of Intuit by 1.9% in the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays increased their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Piper Sandler raised their target price on shares of Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Oppenheimer increased their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Insider Activity

In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated 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 in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock traded up $4.61 during trading on Wednesday, reaching $635.49. The company’s stock had a trading volume of 1,376,556 shares, compared to its average volume of 1,250,610. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $641.40 and its 200-day moving average price is $601.86. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The firm has a market cap of $177.94 billion, a PE ratio of 64.85, a P/E/G ratio of 3.71 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

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.