Cyrus J. Lawrence LLC Has $9 Million Stake in Intuit Inc. (NASDAQ:INTU)

Cyrus J. Lawrence LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,699 shares of the software maker’s stock after acquiring an additional 33 shares during the period. Intuit accounts for 1.8% of Cyrus J. Lawrence LLC’s portfolio, making the stock its 22nd largest holding. Cyrus J. Lawrence LLC’s holdings in Intuit were worth $9,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in Intuit during the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in Intuit during the 2nd quarter worth about $35,000. Finally, Trifecta Capital Advisors LLC grew its holdings in Intuit by 145.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,389 shares of company stock valued at $14,231,188. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Performance

INTU stock opened at $644.99 on Monday. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $180.31 billion, a PE ratio of 59.50, a P/E/G ratio of 3.14 and a beta of 1.24. The business’s 50-day moving average price is $636.82 and its two-hundred day moving average price is $631.11.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $0.40 EPS. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, research analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price (up from $760.00) on shares of Intuit in a research report on Friday, August 23rd. Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America upped their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

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.