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

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

Intuit has raised its dividend payment by an average of 14.1% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Intuit has a payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 0.9 %

INTU opened at $634.62 on Tuesday. 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 company has a market capitalization of $177.77 billion, a PE ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25. The stock’s fifty day moving average is $634.58 and its 200-day moving average is $631.24. Intuit has a one year low of $557.29 and a one year high of $714.78.

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

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 14.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock worth $35,200,125 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the topic of several research reports. BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Piper Sandler cut their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.