Intuit Inc. (NASDAQ:INTU) Stake Cut by Lyell Wealth Management LP

Lyell Wealth Management LP cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,661 shares of the software maker’s stock after selling 1,229 shares during the period. Intuit accounts for approximately 2.1% of Lyell Wealth Management LP’s portfolio, making the stock its 8th largest holding. 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 also recently modified their holdings of INTU. NewSquare Capital LLC bought a new stake in Intuit during the third quarter valued at $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit during the 3rd quarter valued at about $26,000. MCF Advisors LLC raised its holdings in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Steward Financial Group LLC lifted its position in Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after buying an additional 20 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its stake in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after buying an additional 39 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of Intuit 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on INTU. Barclays boosted their price target on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Mizuho raised their target price on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Evercore ISI raised their price target on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $645.00.

Intuit Stock Up 0.7 %

INTU traded up $4.61 during midday 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. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The stock’s 50-day moving average is $641.40 and its 200-day moving average is $601.86. The firm has a market capitalization of $177.94 billion, a price-to-earnings ratio of 64.85, a PEG ratio of 3.71 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results 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. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. As a group, research analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

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.