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

Lyell Wealth Management LP boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 31,234 shares of the software maker’s stock after acquiring an additional 501 shares during the quarter. Intuit accounts for about 1.8% of Lyell Wealth Management LP’s holdings, making the stock its 13th biggest position. Lyell Wealth Management LP’s holdings in Intuit were worth $19,631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of INTU. R Squared Ltd acquired a new stake in Intuit in the 4th quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in Intuit during the 3rd quarter valued at $27,000. Heck Capital Advisors LLC bought a new position in Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 1.3 %

Shares of Intuit stock opened at $579.94 on Wednesday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock’s 50-day simple moving average is $617.68 and its 200 day simple moving average is $629.18. The stock has a market capitalization of $162.34 billion, a P/E ratio of 56.30, a P/E/G ratio of 2.89 and a beta of 1.24. 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 (NASDAQ:INTU) last posted 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 analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. As a group, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INTU shares. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Company 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.