Intuit Inc. (INTU) to Issue Quarterly Dividend of $1.04 on April 18th

Intuit Inc. (NASDAQ:INTU) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, April 10th.

Intuit has raised its dividend by an average of 15.2% annually over the last three years and has raised 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. 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 Price Performance

Shares of INTU stock opened at $613.84 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $171.82 billion, a P/E ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit has a 12 month low of $553.24 and a 12 month high of $714.78. The stock has a 50 day moving average of $605.90 and a two-hundred day moving average of $627.25.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research report on Wednesday. Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $717.88.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. 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 90 days. 2.68% of the stock is owned by company insiders.

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.