Intuit Inc. (NASDAQ:INTU) Plans $0.90 Quarterly Dividend

Intuit Inc. (NASDAQ:INTU) announced a quarterly dividend on Thursday, May 23rd, Zacks reports. Stockholders of record on Wednesday, July 10th will be given a dividend of 0.90 per share by the software maker on Thursday, July 18th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Wednesday, July 10th.

Intuit has raised its dividend by an average of 14.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Intuit has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ:INTU opened at $596.25 on Tuesday. The firm has a market cap of $166.68 billion, a PE ratio of 56.00, a price-to-earnings-growth ratio of 3.70 and a beta of 1.22. Intuit has a 52 week low of $400.22 and a 52 week high of $676.62. The firm’s fifty day moving average is $634.12 and its 200-day moving average is $622.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the company posted $7.80 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Intuit will post 11.28 earnings per share for the current year.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on INTU shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Evercore ISI increased their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Barclays upped their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Susquehanna cut their target price on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday. Finally, Oppenheimer boosted their price target on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.

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.