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

Intuit Inc. (NASDAQ:INTU) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Thursday, April 10th will be paid a dividend of 1.04 per share by the software maker on Friday, April 18th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, April 10th.

Intuit has raised its dividend by an average of 15.2% annually over the last three years and has raised its dividend every year for the last 13 years. Intuit has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Intuit to earn $16.04 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 Price Performance

Shares of NASDAQ INTU opened at $613.84 on Friday. The company’s fifty day moving average is $605.90 and its two-hundred day moving average is $627.25. Intuit has a one year low of $553.24 and a one year high of $714.78. The firm has a market capitalization of $171.82 billion, a P/E ratio of 59.60, a PEG ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday. Scotiabank lowered their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday. Finally, Stifel Nicolaus cut their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $717.88.

Insider Activity

In other news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $12,286.92. This represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,014 shares of company stock worth $140,855,687. 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.