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

Godshalk Welsh Capital Management Inc. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 6.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,125 shares of the software maker’s stock after selling 600 shares during the quarter. Intuit accounts for approximately 3.6% of Godshalk Welsh Capital Management Inc.’s portfolio, making the stock its 3rd largest holding. Godshalk Welsh Capital Management Inc.’s holdings in Intuit were worth $5,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. DiNuzzo Private Wealth Inc. bought a new position in Intuit during the fourth quarter worth about $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit in the third quarter valued at approximately $26,000. MCF Advisors LLC boosted its position in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Intuit in the fourth quarter valued at approximately $38,000. Finally, Sachetta LLC purchased a new stake in Intuit in the fourth quarter valued at approximately $39,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent analyst reports. Mizuho raised their target price on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Piper Sandler raised their target price on shares of Intuit from $750.00 to $760.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Jefferies Financial Group lifted their price target on shares of Intuit from $760.00 to $770.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Morgan Stanley lifted their price target on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $679.41.

Intuit Stock Down 8.3 %

Shares of INTU stock traded down $55.27 during mid-day trading on Friday, reaching $606.99. 4,252,637 shares of the company’s stock traded hands, compared to its average volume of 1,048,470. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $676.62. The company has a market cap of $169.96 billion, a P/E ratio of 56.00, a P/E/G ratio of 4.03 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $634.59 and its 200-day moving average price is $621.43.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $8.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.12 by $0.51. Intuit had a return on equity of 19.07% and a net margin of 19.43%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the firm earned $7.80 EPS. Intuit’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post 11.28 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

About Intuit

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.