Intuit Inc. (NASDAQ:INTU – Get Rating) declared a quarterly dividend on Thursday, May 26th, Wall Street Journal reports. Investors of record on Monday, July 11th will be given a dividend of 0.68 per share by the software maker on Monday, July 18th. This represents a $2.72 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, July 8th.
Intuit has raised its dividend by an average of 13.9% annually over the last three years and has increased its dividend every year for the last 11 years. Intuit has a dividend payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Intuit to earn $9.40 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 28.9%.
NASDAQ:INTU opened at $422.48 on Friday. The company has a market capitalization of $119.48 billion, a price-to-earnings ratio of 53.89, a price-to-earnings-growth ratio of 2.89 and a beta of 1.16. Intuit has a one year low of $339.36 and a one year high of $716.86. The stock has a 50-day simple moving average of $434.51 and a 200 day simple moving average of $523.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18.
A number of equities analysts have commented on INTU shares. The Goldman Sachs Group decreased their target price on Intuit from $715.00 to $615.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Oppenheimer decreased their target price on Intuit to $476.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on Intuit from $650.00 to $625.00 in a research note on Wednesday. Mizuho decreased their target price on Intuit from $730.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, February 3rd. Finally, Credit Suisse Group reduced their price objective on Intuit from $600.00 to $500.00 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, Intuit has an average rating of “Buy” and an average price target of $558.84.
In other Intuit news, EVP James Alexander Chriss sold 368 shares of the company’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $478.84, for a total value of $176,213.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 59,286 shares of the company’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $475.03, for a total value of $28,162,628.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,638 shares of company stock worth $28,718,951. 3.27% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC purchased a new position in Intuit during the 4th quarter worth approximately $54,000. Carolinas Wealth Consulting LLC grew its position in Intuit by 24.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 222 shares of the software maker’s stock worth $107,000 after purchasing an additional 43 shares in the last quarter. KB Financial Partners LLC grew its position in Intuit by 37.6% during the 1st quarter. KB Financial Partners LLC now owns 315 shares of the software maker’s stock worth $151,000 after purchasing an additional 86 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Intuit during the 4th quarter worth approximately $153,000. Finally, Marshall Wace LLP purchased a new position in Intuit during the 4th quarter worth approximately $169,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.
About Intuit (Get Rating)
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 ProConnect.
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