Generali Investments Management Co LLC Makes New $2.24 Million Investment in Intuit Inc. (NASDAQ:INTU)

Generali Investments Management Co LLC bought a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,571 shares of the software maker's stock, valued at approximately $2,244,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC boosted its position 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 acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

INTU stock traded up $3.62 during trading hours on Friday, hitting $604.04. 2,387,403 shares of the stock were exchanged, compared to its average volume of 1,438,740. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. 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 firm has a market capitalization of $168.87 billion, a P/E ratio of 58.64, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a 50-day simple moving average of $596.08 and a two-hundred day simple moving average of $622.80.

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Intuit Dividend Announcement

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 issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INTU. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Piper Sandler reiterated an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price target for the company in a research note on Wednesday, February 26th. Scotiabank cut their price objective on Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $721.61.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction 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 sale, the insider now owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 117,348 shares of company stock worth $73,515,245 in the last quarter. Corporate insiders own 2.68% of the company's stock.

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.