Generali Investments Management Co LLC Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Generali Investments Management Co LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,604 shares of the software maker's stock after selling 967 shares during the quarter. Generali Investments Management Co LLC's holdings in Intuit were worth $1,599,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INTU. Copia Wealth Management acquired a new position in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC increased its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the fourth quarter valued at about $28,000. Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter valued at about $28,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter valued at about $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 225,592 shares of company stock worth $165,325,437 in the last quarter. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on INTU. Barclays restated an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets reiterated an "outperform" rating and issued a $820.00 price target (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus increased their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Oppenheimer reiterated an "outperform" rating and issued a $742.00 price target (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $825.00 price target (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus price target of $785.33.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $4.94 during midday trading on Friday, reaching $771.58. 1,475,201 shares of the stock were exchanged, compared to its average volume of 1,619,358. The firm has a market cap of $215.23 billion, a price-to-earnings ratio of 74.91, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $774.80. The firm has a 50-day simple moving average of $643.09 and a two-hundred day simple moving average of $625.50. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business's revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $9.88 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit's dividend payout ratio (DPR) is 33.77%.

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.