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

Intuit Inc. (NASDAQ:INTU - Get Free Report) announced a quarterly dividend on Thursday, May 29th, Wall Street Journal reports. Shareholders of record on Thursday, July 10th will be paid a dividend of 1.04 per share by the software maker on Friday, July 18th. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, July 10th.

Intuit has increased its dividend by an average of 15.2% annually over the last three years and has increased its dividend every year for the last 13 years. Intuit has a dividend payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.5%

Shares of Intuit stock traded up $11.52 on Monday, hitting $764.99. The stock had a trading volume of 1,869,608 shares, compared to its average volume of 1,620,345. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit has a one year low of $532.65 and a one year high of $766.84. The stock's 50-day simple moving average is $630.69 and its two-hundred day simple moving average is $622.38. The stock has a market cap of $213.39 billion, a price-to-earnings ratio of 74.27, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the company posted $9.88 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, sell-side analysts predict that Intuit will post 14.09 EPS for the current year.

Wall Street Analysts Forecast Growth

INTU has been the topic of several research analyst reports. Evercore ISI boosted their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Piper Sandler reiterated an "overweight" rating and set a $825.00 target price (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Insider Activity

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now directly owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,804 shares of company stock valued at $138,081,963 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuit

A hedge fund recently raised its stake in Intuit stock. Brighton Jones LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 61.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,552 shares of the software maker's stock after acquiring an additional 1,350 shares during the quarter. Brighton Jones LLC's holdings in Intuit were worth $2,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 83.66% 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.