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

Intuit Inc. (NASDAQ:INTU) declared a quarterly dividend on Monday, November 25th,Wall Street Journal reports. Stockholders of record on Thursday, January 9th will be paid a dividend of 1.04 per share by the software maker on Friday, January 17th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th.

Intuit has raised its dividend payment by an average of 14.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Intuit has a dividend payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Intuit to earn $16.07 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 Stock Up 0.7 %

INTU opened at $638.83 on Wednesday. The firm has a market cap of $178.90 billion, a P/E ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50 day moving average price of $634.46 and a 200 day moving average price of $631.29. Intuit has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. Research analysts forecast that Intuit will post 14.05 EPS for the current year.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 14.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock valued at $35,200,125 in the last three months. 2.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BMO Capital Markets boosted their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

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.