Intuit Inc. (INTU) To Go Ex-Dividend on July 7th

Intuit Inc. (NASDAQ:INTU – Get Rating) announced a quarterly dividend on Tuesday, May 23rd, Zacks reports. Investors of record on Monday, July 10th will be given a dividend of 0.78 per share by the software maker on Tuesday, July 18th. This represents a $3.12 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Friday, July 7th.

Intuit has raised its dividend payment by an average of 13.4% per year over the last three years and has increased its dividend annually for the last 11 consecutive years. Intuit has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Intuit to earn $10.29 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 30.3%.

Intuit Trading Down 7.5 %

NASDAQ INTU opened at $415.92 on Thursday. The firm has a market capitalization of $116.69 billion, a P/E ratio of 52.52, a PEG ratio of 3.36 and a beta of 1.19. The business has a fifty day simple moving average of $433.62 and a 200 day simple moving average of $412.08. Intuit has a 12 month low of $352.63 and a 12 month high of $490.83. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42.

Intuit (NASDAQ:INTU – Get Rating) last announced its earnings results on Tuesday, May 23rd. The software maker reported $8.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.30 by $1.62. Intuit had a return on equity of 16.88% and a net margin of 15.91%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the firm posted $6.70 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Intuit will post 9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Eve B. Burton sold 4,539 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $412.57, for a total value of $1,872,655.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 500 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $413.16, for a total value of $206,580.00. Following the sale, the chief accounting officer now directly owns 1,781 shares of the company’s stock, valued at $735,837.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 4,539 shares of the business’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $412.57, for a total value of $1,872,655.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,328 shares of company stock valued at $3,019,323 over the last ninety days. Company insiders own 3.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC lifted its holdings in shares of Intuit by 3.1% during the fourth quarter. SeaCrest Wealth Management LLC now owns 806 shares of the software maker’s stock valued at $314,000 after purchasing an additional 24 shares in the last quarter. Syntax Advisors LLC lifted its holdings in shares of Intuit by 5.0% during the fourth quarter. Syntax Advisors LLC now owns 571 shares of the software maker’s stock valued at $222,000 after purchasing an additional 27 shares in the last quarter. First Commonwealth Financial Corp PA lifted its holdings in shares of Intuit by 2.3% during the first quarter. First Commonwealth Financial Corp PA now owns 1,548 shares of the software maker’s stock valued at $744,000 after purchasing an additional 35 shares in the last quarter. AJ Wealth Strategies LLC lifted its holdings in shares of Intuit by 6.1% during the first quarter. AJ Wealth Strategies LLC now owns 675 shares of the software maker’s stock valued at $325,000 after purchasing an additional 39 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC lifted its holdings in shares of Intuit by 24.0% during the first quarter. Carolinas Wealth Consulting LLC now owns 222 shares of the software maker’s stock valued at $107,000 after purchasing an additional 43 shares in the last quarter. 82.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KeyCorp raised their target price on Intuit from $475.00 to $485.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Atlantic Securities started coverage on Intuit in a report on Monday, April 24th. They issued an “overweight” rating and a $530.00 price objective for the company. Daiwa Capital Markets started coverage on Intuit in a report on Wednesday, March 15th. They issued an “outperform” rating and a $444.00 price objective for the company. Piper Sandler decreased their price objective on Intuit from $510.00 to $497.00 in a report on Wednesday. Finally, BMO Capital Markets lifted their price objective on Intuit from $462.00 to $485.00 in a report on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $491.35.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.