Lyell Wealth Management LP Has $19.63 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Lyell Wealth Management LP lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,234 shares of the software maker’s stock after acquiring an additional 501 shares during the period. Intuit makes up approximately 1.8% of Lyell Wealth Management LP’s investment portfolio, making the stock its 13th largest position. Lyell Wealth Management LP’s holdings in Intuit were worth $19,631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Resonant Capital Advisors LLC acquired a new stake in Intuit during the third quarter worth about $211,000. Trilogy Capital Inc. grew its stake in Intuit by 26.5% during the third quarter. Trilogy Capital Inc. now owns 2,655 shares of the software maker’s stock worth $1,649,000 after buying an additional 557 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth about $27,000. Raleigh Capital Management Inc. grew its stake in Intuit by 7.7% during the third quarter. Raleigh Capital Management Inc. now owns 365 shares of the software maker’s stock worth $227,000 after buying an additional 26 shares in the last quarter. Finally, Ledyard National Bank grew its stake in Intuit by 12.5% during the third quarter. Ledyard National Bank now owns 569 shares of the software maker’s stock worth $353,000 after buying an additional 63 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. Piper Sandler reissued an “overweight” rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s 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 owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $579.94 on Wednesday. The company has a market capitalization of $162.34 billion, a PE ratio of 56.30, a P/E/G ratio of 2.89 and a beta of 1.24. The company has a 50 day simple moving average of $617.68 and a two-hundred day simple moving average of $629.18. 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 Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business 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 company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

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.