Scratch Capital LLC Buys New Stake in Intuit Inc. (NASDAQ:INTU)

Scratch Capital LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,200 shares of the software maker’s stock, valued at approximately $754,000. Intuit accounts for about 0.9% of Scratch Capital LLC’s investment portfolio, making the stock its 18th largest holding.

Other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit during the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the fourth quarter valued at $28,000. Sugar Maple Asset Management LLC acquired a new position in shares of Intuit in the fourth quarter worth about $29,000. Finally, Denver PWM LLC purchased a new stake in shares of Intuit during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research note on Wednesday, February 26th. Scotiabank cut their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. BMO Capital Markets cut their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Oppenheimer increased their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $720.50.

Intuit Stock Performance

NASDAQ INTU opened at $601.09 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s fifty day moving average is $605.15 and its two-hundred day moving average is $626.69. The firm has a market capitalization of $168.04 billion, a P/E ratio of 58.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Announces Dividend

The company 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. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s payout ratio is 38.81%.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. This represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 224,460 shares of company stock valued at $144,750,747. 2.68% of the stock is owned by company insiders.

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.