Scratch Capital LLC Takes $754,000 Position in Intuit Inc. (NASDAQ:INTU)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Financial Advisors grew its stake in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares in the last quarter. Truvestments Capital LLC grew its position in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares in the last quarter. True North Advisors LLC increased its stake in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock worth $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC increased its stake in shares of Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after buying an additional 17 shares during the period. Finally, Kovack Advisors Inc. raised its holdings in Intuit by 4.8% in the third quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock valued at $244,000 after acquiring an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. 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.

Wall Street Analysts Forecast Growth

INTU has been the subject of several analyst reports. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $720.50.

Intuit Stock Performance

Shares of INTU stock opened at $601.09 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $605.15 and a 200-day simple moving average of $626.69. The company has a market cap of $168.04 billion, a price-to-earnings ratio of 58.36, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 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.