Intuit Inc. (NASDAQ:INTU) Position Decreased by Godshalk Welsh Capital Management Inc.

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

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

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,896 shares of company stock worth $82,946,716 in the last 90 days. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Scotiabank dropped their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Performance

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

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

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.