Intuit Inc. (NASDAQ:INTU) declared a quarterly dividend on Tuesday, May 28th, Wall Street Journal reports. Stockholders of record on Wednesday, July 10th will be paid a dividend of 0.47 per share by the software maker on Thursday, July 18th. This represents a $1.88 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Tuesday, July 9th.
Intuit has increased its dividend by an average of 16.0% per year over the last three years and has raised its dividend every year for the last 8 years. Intuit has a dividend payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Intuit to earn $6.20 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 30.3%.
Shares of NASDAQ:INTU opened at $270.54 on Monday. The firm has a 50 day moving average price of $255.64. The firm has a market cap of $70.14 billion, a PE ratio of 59.72, a PEG ratio of 3.06 and a beta of 1.09. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.10. Intuit has a 12 month low of $182.61 and a 12 month high of $272.14.
Several equities research analysts recently issued reports on INTU shares. Oppenheimer lifted their price target on shares of Intuit from $254.00 to $269.00 and gave the company an “outperform” rating in a report on Wednesday, March 27th. Morgan Stanley lifted their price target on shares of Intuit from $239.00 to $244.00 and gave the company an “equal weight” rating in a report on Friday, May 24th. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating and set a $268.00 price target on the stock. in a report on Wednesday, May 29th. BidaskClub lowered shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 9th. Finally, KeyCorp decreased their price target on shares of Intuit from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $252.55.
In related news, Chairman Scott D. Cook sold 133,334 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $262.87, for a total transaction of $35,049,508.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Scott D. Cook sold 103,817 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $258.59, for a total transaction of $26,846,038.03. The disclosure for this sale can be found here. Insiders have sold a total of 277,296 shares of company stock worth $72,342,898 in the last quarter. 4.60% of the stock is owned by corporate insiders.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
Featured Article: SEC Filing
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.