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

Intuit Inc. (NASDAQ:INTU) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders 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 dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th.

Intuit has raised its dividend payment by an average of 15.2% per year over the last three years and has increased its dividend annually for the last 13 consecutive 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 Trading Down 4.0 %

Shares of INTU traded down $25.09 during mid-day trading on Thursday, hitting $600.42. 2,358,704 shares of the company’s stock traded hands, compared to its average volume of 1,899,814. The firm has a market capitalization of $168.07 billion, a P/E ratio of 58.29, a PEG ratio of 2.85 and a beta of 1.24. The business’s 50-day moving average price is $607.22 and its 200-day moving average price is $627.53. Intuit has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were 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 owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,014 shares of company stock worth $140,855,687 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of analyst reports. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank decreased their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $717.88.

About Intuit

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.