Intuit Inc. (INTU) to Issue Quarterly Dividend of $1.04 on January 17th

Intuit Inc. (NASDAQ:INTU) declared a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Thursday, January 9th will be given 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 0.68%. The ex-dividend date is Friday, January 10th.

Intuit has raised its dividend payment by an average of 15.1% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. Intuit has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Intuit to earn $16.00 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 26.0%.

Intuit Stock Down 1.6 %

INTU stock opened at $615.43 on Wednesday. The firm has a market capitalization of $172.27 billion, a PE ratio of 59.75, a PEG ratio of 3.24 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day simple moving average of $649.14 and a two-hundred day simple moving average of $638.33. Intuit has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. On average, equities analysts predict that Intuit will post 14.07 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 289,848 shares of company stock valued at $187,041,365. 2.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on INTU shares. JPMorgan Chase & Co. boosted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley boosted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note 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 data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.