Scratch Capital LLC Purchases Shares of 1,200 Intuit Inc. (NASDAQ:INTU)

Scratch Capital LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,200 shares of the software maker's stock, valued at approximately $754,000. Intuit comprises 0.9% of Scratch Capital LLC's holdings, making the stock its 18th biggest position.

Several other large investors have also modified their holdings of the company. Meridian Wealth Management LLC boosted its stake in shares of Intuit by 4.4% during the fourth quarter. Meridian Wealth Management LLC now owns 1,213 shares of the software maker's stock worth $762,000 after buying an additional 51 shares during the period. Fidelis Capital Partners LLC increased its stake in Intuit by 14.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,716 shares of the software maker's stock valued at $1,031,000 after buying an additional 222 shares during the period. LGT Fund Management Co Ltd. raised its position in Intuit by 18.7% during the 4th quarter. LGT Fund Management Co Ltd. now owns 6,337 shares of the software maker's stock worth $3,983,000 after buying an additional 997 shares during the last quarter. LGT Group Foundation lifted its stake in shares of Intuit by 84.0% in the 4th quarter. LGT Group Foundation now owns 48,536 shares of the software maker's stock worth $30,505,000 after acquiring an additional 22,159 shares during the period. Finally, DJE Kapital AG purchased a new stake in shares of Intuit in the fourth quarter valued at about $43,573,000. 83.66% of the stock is 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 that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value 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 $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 224,460 shares of company stock valued at $144,750,747. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

INTU has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of Intuit from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $640.00 to $660.00 in a report on Wednesday. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Finally, StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research note on Monday. One 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, Intuit has an average rating of "Moderate Buy" and an average target price of $721.61.

Intuit Price Performance

NASDAQ:INTU traded up $18.45 during trading hours on Wednesday, reaching $616.52. 880,725 shares of the company traded hands, compared to its average volume of 1,892,051. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The stock has a market cap of $172.36 billion, a P/E ratio of 59.89, a P/E/G ratio of 2.85 and a beta of 1.24. The firm's 50-day moving average is $604.21 and its 200-day moving average is $626.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors 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 yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio is presently 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.