Intuit Inc. (INTU) to Issue Quarterly Dividend of $0.90 on April 18th

Intuit Inc. (NASDAQ:INTU) announced a quarterly dividend on Tuesday, February 20th, Zacks reports. Stockholders of record on Wednesday, April 10th will be paid a dividend of 0.90 per share by the software maker on Thursday, April 18th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Tuesday, April 9th.

Intuit has raised its dividend payment by an average of 14.1% annually over the last three years and has increased its dividend every year for the last 12 years. Intuit has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Intuit to earn $13.30 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 27.1%.

Intuit Stock Up 2.3 %

Shares of NASDAQ:INTU opened at $635.74 on Friday. Intuit has a 12-month low of $400.22 and a 12-month high of $671.01. The stock’s 50-day moving average price is $647.28 and its two-hundred day moving average price is $591.92. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market cap of $178.01 billion, a price-to-earnings ratio of 64.87, a PEG ratio of 3.87 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. On average, research analysts forecast that Intuit will post 11.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Evercore ISI lifted their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. KeyCorp boosted their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Oppenheimer raised their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Barclays lifted their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,489 shares of company stock valued at $11,958,493. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INTU. Hobbs Group Advisors LLC acquired a new stake in Intuit in the fourth quarter worth approximately $33,000. Cornerstone Planning Group LLC acquired a new stake in shares of Intuit in the second quarter valued at $49,000. SkyView Investment Advisors LLC bought a new position in Intuit during the first quarter valued at about $50,000. O Dell Group LLC acquired a new position in Intuit during the fourth quarter worth about $50,000. Finally, Dark Forest Capital Management LP acquired a new position in Intuit during the first quarter worth about $51,000. 83.66% of the stock is currently owned by institutional investors.

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.