Generali Asset Management SPA SGR Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Generali Asset Management SPA SGR acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 30,978 shares of the software maker’s stock, valued at approximately $19,470,000.

Other hedge funds have also modified their holdings of the company. R Squared Ltd bought a new stake in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC increased its position in shares of 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 purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the fourth quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit in the fourth quarter worth $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value 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 approximately $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,301 shares of company stock valued at $121,470,200. 2.68% of the stock is owned by insiders.

Intuit Trading Up 0.6 %

NASDAQ:INTU opened at $602.11 on Tuesday. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78. 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 business has a 50 day moving average price of $597.76 and a two-hundred day moving average price of $623.51. The company has a market cap of $168.33 billion, a P/E ratio of 58.46, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. Scotiabank lowered their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, Stifel Nicolaus dropped their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $721.61.

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.