Intuit Inc. (NASDAQ:INTU) Announces $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 given 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 of this dividend is Thursday, April 10th.

Intuit has increased its dividend payment by an average of 15.2% per year 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% indicating that its dividend is sufficiently covered by earnings. 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 %

NASDAQ INTU opened at $600.42 on Friday. The company’s 50 day moving average price is $606.49 and its 200 day moving average price is $627.35. Intuit has a one year low of $553.24 and a one year high of $714.78. 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 firm has a market capitalization of $168.07 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 2.85 and a beta of 1.24.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at $12,286.92. The trade was a 99.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,014 shares of company stock valued at $140,855,687. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on INTU. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. BMO Capital Markets cut their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Citigroup decreased their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.