Godshalk Welsh Capital Management Inc. Has $4.91 Million Stake in Intuit Inc. (NASDAQ:INTU)

Godshalk Welsh Capital Management Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,807 shares of the software maker’s stock after selling 153 shares during the period. Intuit accounts for about 3.2% of Godshalk Welsh Capital Management Inc.’s investment portfolio, making the stock its 5th largest holding. Godshalk Welsh Capital Management Inc.’s holdings in Intuit were worth $4,907,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit in the fourth quarter worth approximately $29,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INTU. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research report on Wednesday, February 26th. Scotiabank reduced their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Citigroup decreased their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $721.61.

Insider Buying and Selling at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,896 shares of company stock worth $82,946,716 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.6 %

Shares of NASDAQ:INTU opened at $614.86 on Thursday. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $171.89 billion, a P/E ratio of 59.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The firm has a fifty day moving average of $595.84 and a two-hundred day moving average of $622.71.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

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.