Godshalk Welsh Capital Management Inc. Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Godshalk Welsh Capital Management Inc. grew its holdings in Intuit Inc. (NASDAQ:INTU) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,100 shares of the software maker’s stock after acquiring an additional 20 shares during the period. Intuit accounts for 3.6% of Godshalk Welsh Capital Management Inc.’s portfolio, making the stock its 4th largest holding. Godshalk Welsh Capital Management Inc.’s holdings in Intuit were worth $5,323,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the 2nd quarter valued at $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $35,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Intuit during the 2nd quarter valued at $39,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTU. Susquehanna restated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. Citigroup lifted their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $720.37.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,389 shares of company stock worth $14,231,188. 2.90% of the stock is currently owned by corporate insiders.

Intuit Price Performance

INTU stock opened at $654.24 on Friday. The stock has a market cap of $182.89 billion, a PE ratio of 60.35, a P/E/G ratio of 3.14 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a 50-day moving average price of $636.76 and a 200 day moving average price of $631.46.

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

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

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.