Intuit Inc. (NASDAQ:INTU) to Issue Quarterly Dividend of $1.04

Intuit Inc. (NASDAQ:INTU) announced a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders 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 dividend yield of 0.66%. The ex-dividend date is Thursday, January 9th.

Intuit has increased its dividend by an average of 14.1% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Intuit has a payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Intuit to earn $16.09 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 25.9%.

Intuit Trading Down 0.9 %

Shares of INTU stock opened at $634.62 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a 1 year low of $557.29 and a 1 year high of $714.78. The firm’s fifty day simple moving average is $634.58 and its 200 day simple moving average is $631.24. The firm has a market capitalization of $177.77 billion, a P/E ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that Intuit will post 14.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INTU shares. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Piper Sandler dropped their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday. Finally, Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,265 shares of company stock worth $35,200,125 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

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.