Intuit Inc. (NASDAQ:INTU) Plans $1.04 Quarterly Dividend

Intuit Inc. (NASDAQ:INTU) declared a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Thursday, January 9th will be given a dividend of 1.04 per share by the software maker on Friday, January 17th. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, January 10th.

Intuit has raised its dividend by an average of 15.1% annually over the last three years and has raised its dividend every year for the last 12 years. Intuit has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Intuit to earn $16.00 per share next year, which means the company should continue to be able to cover its $4.16 annual dividend with an expected future payout ratio of 26.0%.

Intuit Stock Performance

NASDAQ INTU opened at $615.43 on Wednesday. The stock has a market capitalization of $172.27 billion, a PE ratio of 59.75, a P/E/G ratio of 3.24 and a beta of 1.25. The business has a 50 day simple moving average of $649.14 and a two-hundred day simple moving average of $638.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.14 EPS. On average, research analysts predict that Intuit will post 14.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INTU shares. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Piper Sandler dropped their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $737.44.

Insider Transactions at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 363 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $11,941.50. This represents a 95.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 289,848 shares of company stock worth $187,041,365 over the last quarter. 2.68% of the stock is currently owned by insiders.

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.