Scratch Capital LLC Has $2.21 Million Position in Intuit Inc. (NASDAQ:INTU)

Scratch Capital LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 200.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,600 shares of the software maker's stock after acquiring an additional 2,400 shares during the quarter. Intuit comprises 2.3% of Scratch Capital LLC's portfolio, making the stock its 12th biggest holding. Scratch Capital LLC's holdings in Intuit were worth $2,210,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Norges Bank acquired a new stake in shares of Intuit during the 4th quarter worth $2,290,419,000. Finally, Northern Trust Corp grew its holdings in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer now directly owns 197 shares of the company's stock, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,408 shares of company stock valued at $213,441,865. Company insiders own 2.68% of the company's stock.

Intuit Stock Down 1.6%

Shares of NASDAQ INTU opened at $753.98 on Friday. 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 firm has a market capitalization of $210.32 billion, a price-to-earnings ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28. The stock has a 50 day moving average price of $664.85 and a 200 day moving average price of $630.25. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 earnings per share. Intuit's revenue was up 15.1% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Bank of America upped their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Stifel Nicolaus upped their price objective on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $787.95.

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.

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