Generali Investments Management Co LLC Takes $2.24 Million Position in Intuit Inc. (NASDAQ:INTU)

Generali Investments Management Co LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 3,571 shares of the software maker’s stock, valued at approximately $2,244,000.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Intuit during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in Intuit during the 4th quarter worth $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,646 shares of company stock valued at $72,494,045 over the last three months. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on INTU shares. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Trading Down 0.5 %

Shares of Intuit stock opened at $599.03 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $167.47 billion, a price-to-earnings ratio of 58.16, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a fifty day simple moving average of $597.44 and a 200-day simple moving average of $623.29. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

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.