Intuit Inc. to Issue Quarterly Dividend of $0.78 (NASDAQ:INTU)

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

Intuit has raised its dividend by an average of 13.4% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Intuit has a payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of INTU stock opened at $415.92 on Thursday. The company has a market capitalization of $116.69 billion, a PE ratio of 52.52, a price-to-earnings-growth ratio of 3.36 and a beta of 1.19. The firm has a fifty day simple moving average of $433.62 and a 200-day simple moving average of $412.08. 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 has a twelve month low of $352.63 and a twelve month high of $490.83.

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

Insider Buying and Selling at Intuit

In other Intuit news, CFO Michelle M. Clatterbuck sold 545 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $421.38, for a total transaction of $229,652.10. Following the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at approximately $568,863. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Marianna Tessel sold 1,744 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $407.36, for a total transaction of $710,435.84. Following the completion of the transaction, the executive vice president now owns 26,458 shares in the company, valued at approximately $10,777,930.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Michelle M. Clatterbuck sold 545 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $421.38, for a total transaction of $229,652.10. Following the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at approximately $568,863. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,328 shares of company stock valued at $3,019,323. Company insiders own 3.18% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several large investors have recently made changes to their positions in the business. SkyView Investment Advisors LLC bought a new position in shares of Intuit during the 1st quarter valued at about $50,000. Centaurus Financial Inc. boosted its position in shares of Intuit by 9.0% during the 1st quarter. Centaurus Financial Inc. now owns 579 shares of the software maker’s stock valued at $258,000 after purchasing an additional 48 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its position in shares of Intuit by 0.5% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 163,601 shares of the software maker’s stock valued at $72,938,000 after purchasing an additional 753 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of Intuit by 5.2% in the first quarter. Sunbelt Securities Inc. now owns 2,609 shares of the software maker’s stock worth $1,148,000 after buying an additional 128 shares during the period. Finally, KB Financial Partners LLC purchased a new position in shares of Intuit in the first quarter worth approximately $175,000. Institutional investors own 82.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INTU. Atlantic Securities began coverage on shares of Intuit in a research note on Monday, April 24th. They set an “overweight” rating and a $530.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Intuit from $520.00 to $525.00 in a research note on Wednesday. KeyCorp increased their price objective on shares of Intuit from $475.00 to $485.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. BMO Capital Markets increased their target price on shares of Intuit from $462.00 to $485.00 in a report on Wednesday. Finally, StockNews.com assumed coverage on shares of Intuit in a report on Thursday, May 18th. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $491.35.

About Intuit

(Get Rating)

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.